February 8: Local governments are found to be recommending projects under the Small Development Project (SDP)—a scheme financed by the Government of India—by going against set…
February 8: Local governments are found to be recommending projects under the Small Development Project (SDP)—a scheme financed by the Government of India—by going against set…
February 8: The Civil Aviation Authority of Nepal (CAAN), the aviation regulatory body of Nepal, on Monday (February 8) issued an ultimatum to 11 defunct airline companies to clear their pending dues of Rs 90 million within 30…
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February 5: With the fall in number of Covid-19 cases in Nepal, the number of foreign nationals arriving in the country has grown in January compared to the previous…
February 3: The base rate of commercial banks has dropped in the second quarter of the current fiscal year.…
February 3: The Footwear Business Expo, organized by the Footwear Manufacturers’ Association of Nepal, has kicked off at the Exhibition Hall in Bhrikutimandap, Kathmandu from Wednesday, February…
February 3: The Department of Roads (DoR) has shortlisted 42 companies for upgrading the Nagdhunga-Malekhu-Muglin section of Prithvi Highway.…
February 3: Samrat Cement Industry is preparing to produce 7 megawatts of electricity a day in addition to 2,000 metric tons of clinker per day.…
February 3: The weather will be cloudy throughout the country from Thursday to Saturday (February 4 to 6) with chances of precipitation in many places, the state-owned national news agency RSS reported citing the Department of Hydrology and Meteorology.…
February 2: The non-performing loans (NPL) of more than a dozen commercial banks have increased in the second quarter of the current fiscal…
February 3: The Nepal Stock Exchange (NEPSE) – an indicator to measure share transaction in the stock market – has reached the highest-ever points.…
February 2: India’s SJVN Limited, which has been selected for the project framework development of the 679-megawatt Lower Arun Hydropower Project, will be taking away 79 percent of electricity generated by the project to…
February 2: The "Let’s go to Sauraha" campaign launched before the new year to revive the COVID-19 impacted tourism sector of Chitwan district is slowly gaining momentum, as domestic tourists are gradually arriving in Sauraha in an impressive number.…
February 2: The government has formed a bird flu control room to curb the spread of the H5N1 virus after the disease was detected in a poultry farm in Tarkeshwar Municipality on the outskirts of the…
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Many local units do not pay attention to these criteria. Those incomplete proposals are returned to the respective local units. We have been drawing their attention about this issue which is yet to be resolved,” said Bishnu Dutta Gautam, a joint secretary at the MoFAGA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Many projects recommended by local units are related to those areas that are different than those allowed under the scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Going against the upper limit set for the funding under the SDP, some local units have also been found recommending projects with estimated cost higher than Rs 50 million, according to MoFAGA officials. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">After receiving proposals from local governments, the MoFAGA forwards the eligible projects for the funding to the Embassy of India in Kathmandu via the Ministry of Finance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">The Embassy of India in Kathmandu has allocated a budget of Rs 500 million for the SDP for the current fiscal year 2020/21. The Indian government directly releases the budget to the respective local governments based on the progress of the projects selected under this scheme. </span></span></span></p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12770', 'image' => '20210208020500_20160628012102_flag.jpg', 'article_date' => '2021-02-08 14:04:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13023', 'article_category_id' => '1', 'title' => 'CAAN Gives 30-day Ultimatum for Airline Companies to Clear their Dues', 'sub_title' => '', 'summary' => 'February 8: The Civil Aviation Authority of Nepal (CAAN), the aviation regulatory body of Nepal, on Monday (February 8) issued an ultimatum to 11 defunct airline companies to clear their pending dues of Rs 90 million within 30 days.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Tamish Giri</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">February 8: The Civil Aviation Authority of Nepal (CAAN), the aviation regulatory body of Nepal, on Monday (February 8) issued an ultimatum to 11 defunct airline companies to clear their pending dues of Rs 90 million within 30 days.<br /> Issuing a public notice on February 8, CAAN warned the airline companies that it would take severe action if they fail to clear the dues within the deadline.<br /> Raj Kumar Chhetri, deputy director-general and spokesperson of CAAN, informed New Business Age that the regulatory body had previously issued the notice three months ago and had informed the stakeholders about it. However, none of the airlines paid the dues. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“We received enquiries from some airline operators who mentioned that they had sold the company long back and requested to remove their name from the list. We have requested them to bring their documents and meet our finance department regarding it. We want to help them, but they have to clear their pending dues to the government. They don’t have any other alternatives,” he said.<br /> CAAN has warned the airline companies that it would blacklist them and their owners under the Civil Aviation Airport Management Regulation 2011, prohibiting them from operating flights, entering airports and participating in any businesses associated with CAAN in the future, if they don’t clear the pending dues in time.<br /> CAAN has also warned of confiscating the properties of those who guaranteed to pay the dues in case the operators failed to do so.<br /> The regulatory body published the first public notice on February 8 after the airline companies did not clear their dues even after repeated notification.<br /> CAAN has asked to pay the outstanding amount and late fee within 30 days.<br /> The airlines that have not cleared the dues include Necon Air, Shivani Air, Alpine Air, Gorkha Air, Karnali Air, Mountain Air, Cosmic Air, Shangrila Air, Skyline Airways, Air Kasthamandap and Nepal Airways. None of these airlines has been in operation since 2008.<br /> The airlines have to pay a combined fee of Rs 96.874 million to the CAAN.<br /> According to the public notice published by CAAN, Neccon has to pay Rs 47 million, Shiwani Air Rs 5.5 million, Alpine Air Rs 72,728, Gorkha Air Rs 2.03 million, Karnali Air Rs 1.74 million, Mountain Air Rs 1.2 million, Cosmic Air Rs 34.7 million, Shangrila Air Rs 1.53 million, Skyline Air Rs 1.55 million, Air Kasthamandap Rs 0.73 million and Nepal Airways Rs 0.55 million.<br /> “Some international operators also have not cleared their dues, and we will make a public statement soon regarding them,” Chhetri informed.<br /> Sahara, Kingfisher and Jet Airways are yet to clear their pending bills to the CAAN.<br /> "We urge the airline operators to clear the dues abiding by the law," Chhetri added.</span></span></span></span></p> <p> </p> <p><img alt="" src="/app/webroot/userfiles/images/CAAN%281%29.jpeg" style="height:1024px; width:802px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12769', 'image' => '20210208012832_20200827042104_1598477546.Clipboard08.jpg', 'article_date' => '2021-02-08 13:26:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13022', 'article_category_id' => '1', 'title' => '17.57 Million People have Access to Internet via Smartphones ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Manisha Balami</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">February 8: With the rise in use of smartphones, more than half of the population of Nepal has access to internet at their fingertips. The latest Management Information System (MIS) report published by Nepal Telecommunication Authority (NTA) shows that 23.92 million has access to internet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Of the total internet users, 17.57 million are using mobile data. Meanwhile, 6.1 million users are using broadband and 226,662 are using wireless internet service. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Min Prasad Aryal, spokesperson of NTA, states that the 4G expansion by telecom service providers has helped to increase its mobile broadband users. “4G expansion in urban as well as rural areas has resulted in a surge in the use of internet,” he said, adding fund from Rural Telecommunication Development Fund (RTDF) has been granted to the internet service providers to expand the internet service in remote areas of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the telecommunication authority’s data, 11.9 million users are Nepal Telecom subscribers. Among them, 2.04 million are 4G users while 8.43 million are using 3G service of NTC. In the meantime, 6.75 million are using broadband service of Ncell. Among them, 2.67 million are using 3G services while 4.08 million are using 4G service. Likewise, 199,761 are using 4G service of SmartCell. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Aryal further says that the internet consumption has also increased after people were locked down in their houses to avoid coronavirus. As everything was done virtually, the use of internet has increased during the lockdown period. “This trend will increase further in the coming days as digital transactions have also increased and the use of data will also grow exponentially,” said Aryal. </span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12768', 'image' => '20210208112726_wi-fi-internet-connection-on-a-smartphone-icon-vector-7350115.jpg', 'article_date' => '2021-02-08 11:26:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13021', 'article_category_id' => '1', 'title' => 'One Stop Service Center Fails to Deliver Promises of Removing Hassles for Investors ', 'sub_title' => 'Investors are pushed from pillar to post for paperwork as half a dozen government agencies do not have presence at One Stop Service Center ', 'summary' => '', 'content' => '<h1><span style="font-size:18px"><span style="font-family:Cambria">SAGAR GHIMIRE</span></span></h1> <p><span style="font-size:18px"><span style="font-family:Cambria">February 8: Even after one and a half years of establishment, the One Stop Service Center (OSSC) set up by the government to deal with investors is operating in the absence of representatives of over half a dozen government agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Due to a long delay by these government agencies in sending their representatives to the OSSC, investors continue to face trouble to get their work done. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The OSSC was established at the premises of the Department of Industry (DoI) in May 2019 with an objective of providing all services—ranging from approval of investments to exit of an industry—for investors from a single place. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">To offer all services required for investors, the government promised to house 13 government agencies in the One Stop Service Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">However, seven agencies are yet to show their presence at the OSSC, requiring investors to visit the respective office of these agencies for the paperwork.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Despite promises from the government that the single-window would cut hassles, cost and time for investors, the reality is different at the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Crucial government agencies like the Ministry of Physical Infrastructure and Transportation, Ministry of Forest and Environment, Office of the Company Registrar and Nepal Electricity Authority have not sent their representatives to the OSSC yet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Investors and experts say that the OSSC cannot meet its objectives without bringing all government agencies dealing with investment on board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“It was said that all services are available from the OSSC. But, that’s not the case here. I was told that we should visit offices of some agencies that are not here to get their services,” a lawyer visiting the OSSC to get information for a Japanese investor told New Business Age. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Even the Office of the Company Registrar does not have a representative here. If asked, staff here would point towards the building of the Office of the Company Registrar nearby. Establishment of the OSSC should have ended the hassle of visiting various government agencies,” he added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">However, Gyanendra Parajuli, director at the Department of Industry, claims that the absence of various agencies have not made a significant impact on the overall work of the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Investors rarely seek services of those agencies which have not sent their representatives yet. But, these agencies will also send their representatives gradually in line with the spirit of the OSSC,” said Parajuli, who is also the spokesperson of the DoI. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">A study carried out by the DoI recently concluded that the absence of representatives of seven agencies at the OSSC is a managerial issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Absence of various government agencies is not the only issue hampering the performance of the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Even the representatives of various agencies who have been deputed at the OSSC cannot make decision in all cases. As they do not have the authority to decide themselves in all cases, they have to forward those files to the respective agencies for approval. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“The intention of setting up OSSC is good. However, investors have not been able to experience anything worthwhile after this mechanism came into operation,” Shabda Gyawali, Investment Director at Dolma Impact Fund, told New Business Age. “While there are some government agencies that are yet to send their representatives to the OSSC, those who already have their desks cannot promptly make decision in many cases. What’s the difference now and then? Earlier, investors had to visit Nepal Rastra Bank whereas staff at their desk of the OSSC forwards the files now,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Dolma Impact Fund is the first international private equity and impact fund dedicated to Nepal and provides capital and expertise to growth companies related to sectors like renewable energy, agriculture, health and tourism. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Gyawali said that the government should implement a system that approves investment on certain sectors through automatic route to end hassles for foreign investors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Admitting that staff working at the OSSC cannot make decision themselves in certain cases, DoI’s Director Parajuli said that respective agencies should delegate them full authority. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to the DoI, it has approved 129 projects in the first six months of the current fiscal year 2020/21 for foreign direct investments worth Rs 25.26 billion. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Cambria"><strong><em>Government agencies yet to send representatives: </em></strong></span></span></p> <ol> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Physical Infrastructure and Transport</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Forests and Environment</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Labor, Employment and Social Security </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Department of Commerce, Supplies and Consumer Interest Protection</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Office of Company Registrar </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Nepal Electricity Authority </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Nepal Telecommunication Authority </span></span></li> </ol> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12767', 'image' => '20210208111509_20160513034506_editor.jpg', 'article_date' => '2021-02-08 11:13:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13020', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up in January ', 'sub_title' => '', 'summary' => 'February 5: With the fall in number of Covid-19 cases in Nepal, the number of foreign nationals arriving in the country has grown in January compared to the previous months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">February 5: With the fall in number of Covid-19 cases in Nepal, the number of foreign nationals arriving in the country has grown in January compared to the previous months.<br /> According to the data provided by the Department of Immigration, a total of 8,874 foreign nationals visited Nepal in the first month of 2021. Among them, 6,225 were male, 2,635 were female, while 14 were unverified, as per the department’s data.<br /> The reported number of tourist arrival is the highest since March 2020, when 42,776 tourists had visited Nepal.<br /> Mani Raj Lamichhane, director of Nepal Tourism Board, informed that the number of foreigners arriving in Nepal has increased following the air bubble agreement between Nepal and India and the drastic fall in Covid-19 cases.<br /> "News about Covid-19 vaccination in the western countries, the introduction of vaccination in Nepal and a drastic decline in Covid-19 casualties have motivated the foreigners to travel to Nepal," Lamichhane added. <br /> Likewise, online promotions of NTB through various channels and virtual meets have also attracted the foreigners to Nepal.<br /> Nepal recorded the lowest number of tourist arrival with just 14 visitors in April last year and 9,420 foreigners between April and December 2020.<br /> According to the Department of Immigration, foreign nationals of 121 different nations had visited Nepal in January this year, while 39,946 Nepalis left the country.<br /> Altogether 4,028 Indian nationals, 1,877 Chinese and 874 Americans and 39 UN officials had entered Nepal in January along with 47,267 Nepalis. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-05', 'modified' => '2021-02-05', 'keywords' => '', 'description' => '', 'sortorder' => '12766', 'image' => '20210205105042_20201125014618_20201016032657_1602804123.Clipboard13.jpg', 'article_date' => '2021-02-05 10:49:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13019', 'article_category_id' => '1', 'title' => 'Base Rate of All Commercial Banks Decline', 'sub_title' => '', 'summary' => 'February 3: The base rate of commercial banks has dropped in the second quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The base rate of commercial banks has dropped in the second quarter of the current fiscal year. It has been learnt that the base rate has dropped as a result of banks reducing the cost of deposits. As the base rate has dropped, customers of the banks have started getting loans at a cheaper rate of interest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of 27 commercial banks have dropped to a minimum of 5.61 percent and a maximum of 8.45 percent as of mid-January. The lowest base rate is of the state-owned Rastriya Banijya Bank while Civil Bank has the highest base rate.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of commercial banks were in double digits until a year ago. Due to this, the rate of interest on loan was high during last year. But the base rates of all the banks have dropped to single digit this year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of commercial banks have dropped between 0.00 percentage points to 2.53 percentage points in the second quarter of the current fiscal year compared to the corresponding period of last FY. The average base rate of commercial banks is 7.19 percent.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the decline in base rate, the floating interest will also decline but it will not have any impact on fixed interest rate, says Bhuvan Kumar Dahal, chairman of Nepal Bankers’ Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The base rates of all banks have declined. Now the customers can avail loan at cheaper floating interest rate,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12765', 'image' => '20210203045517_20200824042834_INTEREST-RATE.jpg', 'article_date' => '2021-02-03 16:54:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13018', 'article_category_id' => '1', 'title' => 'Footwear Business Expo Kicks Off ', 'sub_title' => '', 'summary' => 'February 3: The Footwear Business Expo, organized by the Footwear Manufacturers’ Association of Nepal, has kicked off at the Exhibition Hall in Bhrikutimandap, Kathmandu from Wednesday, February 3.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria">February 3: The Footwear Business Expo, organized by the Footwear Manufacturers’ Association of Nepal, has kicked off at the Exhibition Hall in Bhrikutimandap, Kathmandu from Wednesday, February 3. The 20-day long event is being organised with the slogan ‘Our Campaign- Promotion of domestic products’. The expo will end on 22<sup>nd</sup> March.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Krishna Kumar Phuyal, chairman of the Footwear Manufacturers’ Association of Nepal (FMAN) and coordinator of the expo said, “This expo has been organized to uplift the economy that has been badly affected by COVID-19”. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Phuyal added that the customers are becoming increasingly aware about the value of locally-made products. “They are more affectionate about it so this is our attempt to present locally made footwear from various brands among the customers,” he further added. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The expo is offering shoes of about 3000 models with prices ranging from Rs 300 to Rs 10,000. The organizers of the expo are expecting 500,000 visitors during the expo. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Homnath Poudel, former president of FMAN, claimed that all the Nepalese brands have participated in the event and asked visitors to visit the event and promote Nepali products. He also informed that FMAN will be organizing footwear expo in each province from this year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12764', 'image' => '20210203043705_20181225010006_Clipboard01.jpg', 'article_date' => '2021-02-03 16:36:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13015', 'article_category_id' => '1', 'title' => '42 Companies Shortlisted for Upgrading Nagdhunga-Malekhu-Muglin Road Section', 'sub_title' => '', 'summary' => 'February 3: The Department of Roads (DoR) has shortlisted 42 companies for upgrading the Nagdhunga-Malekhu-Muglin section of Prithvi Highway. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">February 3: The Department of Roads (DoR) has shortlisted 42 companies for upgrading the Nagdhunga-Malekhu-Muglin section of Prithvi Highway. Majority of those companies that made it to the pre-qualification round of selection process are Chinese companies. According to the DoR, a total of 30 Chinese companies were shortlisted in response to a global tender issued by the department while the remaining 12 companies are from Nepal and India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The government has allocated Rs 16 billion for upgrading the 96 km section of the highway but only Rs 9 billion has been released for the current upgradation work. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The department is preparing to complete the project in three packages and these 42 companies have been shortlisted to upgrade the Nagdhunga-Naubise and Naubise-Malekhu sections of the highway under the first and second packages respectively. A total of 56 kilometers of road fall under these two packages. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Deputy Director General of the Development Support Implementation Division of the Department of Roads, Arjun Jung Thapa informed that all the companies that fulfilled the criteria mentioned in the tender have been selected in the pre-qualification round. Thapa added that there will be competition among the shortlisted companies to select the best among them. The department will now seek financial proposals from the shortlisted companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">A tender for upgrading the Malekhu-Muglin section under the third package worth Rs 7 billion will be announced soon, added Thapa. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The process of upgrading the road section has started after the World Bank released funds for the project some eight months ago. The same road was earlier upgraded with the financial assistance of the World Bank about 29 years ago.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12763', 'image' => '20210203120420_20200611120202_WB Road Project.jpg', 'article_date' => '2021-02-03 12:03:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13017', 'article_category_id' => '1', 'title' => 'Samrat Cement to Produce 7 MW Electricity within 3 Months', 'sub_title' => '', 'summary' => 'February 3: Samrat Cement Industry is preparing to produce 7 megawatts of electricity a day in addition to 2,000 metric tons of clinker per day. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">February 3: Samrat Cement Industry is preparing to produce 7 megawatts of electricity a day in addition to 2,000 metric tons of clinker per day. The company, which was formally launched on November 30, 2020, will be utilizing the byproducts like hot air and garbage to produce electricity.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The company has been producing both cement and clinker. According to the company, it will be able to to produce 7 megawatts of electricity while producing 4,500 metric tons of clinker from all its plants. Chairman of the industry Mukunda Timilsina informed that preparations are underway to produce 7 megawatts of electricity within three months. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Once the industry starts producing electricity on its own, it plans to reduce the purchase of electricity from the Nepal Electricity Authority.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The cement industry currently requires 22 megawatts of electricity on a daily basis for its operation.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Within two months of operation, Samrat Cement Industry has started producing 2,000 metric tons of clinker per day which is half of its total capacity. The industry plans to produce 2,500 metric tons of additional clinker within a month.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Samrat Cement has been using limestone from mines in Dang and Rolpa district.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12762', 'image' => '20210203023030_My Effect.jpg', 'article_date' => '2021-02-03 14:29:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13016', 'article_category_id' => '1', 'title' => ' Rain and Snowfall in Forecast ', 'sub_title' => '', 'summary' => 'February 3: The weather will be cloudy throughout the country from Thursday to Saturday (February 4 to 6) with chances of precipitation in many places, the state-owned national news agency RSS reported citing the Department of Hydrology and Meteorology. ', 'content' => '<p><em>This file photo taken from the archives of New Business Age shows heavy snowfall in Dolakha.</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The weather will be cloudy throughout the country from Thursday to Saturday (February 4 to 6) with chances of precipitation in many places, the state-owned national news agency RSS reported citing the Department of Hydrology and Meteorology. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Light rainfall will take place in most of the areas of the country while snowfall will likely occur in the high hills and mountainous areas as the westerly wind will become active from Thursday, RSS quoted meteorologist Shanti Kandel as saying. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Kandel, the temperature will start rising after this weather system exits and it will be hotter. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The weather was partly cloudy in the hill areas while it was fair in the rest of the country on Tuesday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The weather update shared by the Meteorological Forecasting Division shows the minimum temperature of Kathmandu at 2.7 degrees Celsius and the maximum temperature at 18.8 degrees Celsius on Tuesday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the lowest minimum temperature was recorded in Jumla. The lowest minimum temperature in Jumla was minus 4.5 degrees Celsius while Birendranagar recorded the highest minimum temperature of 8.2 degrees Celsius on Tuesday. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12761', 'image' => '20210203122659_20181230033201_2222.jpg', 'article_date' => '2021-02-03 12:25:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13013', 'article_category_id' => '1', 'title' => 'Over a Dozen Commercial Banks Report Increase in NPL', 'sub_title' => '', 'summary' => 'February 2: The non-performing loans (NPL) of more than a dozen commercial banks have increased in the second quarter of the current fiscal year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The non-performing loans (NPL) of more than a dozen commercial banks have increased in the second quarter of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Out of the 27 commercial banks, 14 have stated that the nonperforming loans in the second quarter of the current fiscal year have increased compared to the corresponding period of last fiscal year. Other 12 commercial banks have reported that their NPL is under control while Century Commercial Bank has reported NPL equal to that of the previous year. In the first quarter of the current fiscal year, 18 commercial banks had reported increase in NPL.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned Rastriya Banijya Bank has the highest amount of NPL among all commercial banks this year. The bank’s NPL was 4.23 percent in the second quarter of the current FY, which is still better than 4.77 percent during the corresponding period of last fiscal year. Rastriya Banijya Bank has stated that it is facing problem in collecting installments of loan due to the impact of Covid-19. Other two state-owned banks – Agriculture Development Bank and Nepal Bank Limited – stand second and third among the commercial banks with high non-performing loans. The non-performing loan of Agriculture Development Bank was 3.14 percent during the review period while that of Nepal Bank Limited was 2.88 percent.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Citizen’s Bank has reported a rise in NPL this year compared to last year. The bank’s NPL during the review period was 2.42 percent against 0.99 percent last year. Similarly, Standard Chartered Bank also reported an increase in NPL from 0.17 percent last year to 1.54 percent this year. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The NPL of other commercial banks during the review period are as follows: NMB Bank (2.38 percent), Nepal Bangladesh Bank (2.37 percent), Himalayan Bank (2.13 percent), Siddhartha Bank (1.91 percent), Global IME Bank (1.72 percent), Mega Bank (1.71 percent), and Kumari Bank (1.06 percent).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The financial reports issued by Machhapuchchhre Bank, Sanima Bank, Nepal SBI Bank and Everest Bank also reported increase in NPL below 1 percentage point.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12760', 'image' => '20210202041717_PIMCO_Blog_NPL_Nov17_55361_670x440.jpg', 'article_date' => '2021-02-02 16:16:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13014', 'article_category_id' => '1', 'title' => 'NEPSE at All-Time High Record ', 'sub_title' => '', 'summary' => 'February 3: The Nepal Stock Exchange (NEPSE) – an indicator to measure share transaction in the stock market – has reached the highest-ever points. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The Nepal Stock Exchange (NEPSE) – an indicator to measure share transaction in the stock market – has reached the highest-ever points. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the latest rise on February 2, the NEPSE has bounced to reach 2,500 points. According to the NEPSE, the stock market has touched 2,473.73 points with a gain of 65.49 points on Tuesday (February 2) alone. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Likewise, the sensitive index, which measures share transaction of big companies, has also gained 14.10 points to reach 451.38 points. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Along with the rise in NEPSE index, the traded amount has also witnessed increment. Total volume of shares traded on Tuesday were over Rs 8.59 billion. Shares of 200 companies were traded, NEPSE sources said. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The share market capitalization has reached Rs 3300 billion with the latest increment. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12759', 'image' => '20210203112246_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2021-02-03 11:22:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13011', 'article_category_id' => '1', 'title' => 'SJVN Limited to Export 79 Percent Electricity to India, Nepal to get 21 Percent Free of Cost', 'sub_title' => '', 'summary' => 'February 2: India’s SJVN Limited, which has been selected for the project framework development of the 679-megawatt Lower Arun Hydropower Project, will be taking away 79 percent of electricity generated by the project to India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">February 2: India’s SJVN Limited, which has been selected for the project framework development of the 679-megawatt Lower Arun Hydropower Project, will be taking away 79 percent of electricity generated by the project to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Indian company will be exporting 536.41 megawatts of electricity to India once the project starts generating electricity. Nepal will be getting 21 percent of electricity (146.37 megawatts) generated by the project free of cost. The company had included such clauses while submitting proposal for the project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Following the selection of SJVN Limited, the total number of hydropower projects developed for exporting electricity from Nepal has now reached three. Other such projects include 900-megawatt Arun III Hydropower Project, which is also being developed by SJVN Limited, and 900-megawatt Upper Karnali Hydropower Project which is undertaken by India’s GMR Company. Both of these companies will be exporting electricity to India after providing a certain amount of electricity free of cost to Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal will receive 21.88 percent electricity from the Lower Arun III and 12 percent electricity from Upper Karnali.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Investment Board Nepal had last week selected SJVN Limited for the framework development of Lower Arun Hydropower Project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">SJVN Limited’s competitor from China had proposed providing 25 percent free electricity to Nepal. However, SJVN scored more points in overall criteria set by the government and therefore the project was handed over to the Indian company, the board informed New Business Age. A high-ranking source at the Ministry of Energy said on condition of anonymity that SJVN Limited scored three points more than the Chinese company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We didn’t evaluate the proposals only on the basis of free electricity offer. SJNV scored more points while evaluating all the criteria set by the government,” said the source, adding that the Chinese company scored 80 points while the Indian company scored 83 points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The company’s proposal has already been approved by the Government of Nepal after it was selected for project framework development. However, there are possibilities of amending the proposal of the Indian company while signing the project development agreement (PDA).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Firstly, the board will sign an agreement with the company for project framework development. Then the board will give survey license and then the permission for construction of the project, which will be followed by PDA between the company and the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">IBN Spokesperson Dharmendra Kumar Mishra said that the two sides can negotiate on the proposal made by the company before signing the PDA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Both sides will hold discussions on the proposal made by the company before signing the PDA. The proposal can be amended in this process,” said Mishra.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The framework for the project will be developed as Build, Own, Operate and Transfer (BOOT) model under the public-private partnership framework.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12757', 'image' => '20210202021045_20150823012330_ep1.jpg', 'article_date' => '2021-02-02 14:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13010', 'article_category_id' => '1', 'title' => '50 Percent Hotel Occupancy in Sauraha following New Year Campaign', 'sub_title' => '‘Let's Go to Sauraha’ Campaign Brings Tourists in Hordes', 'summary' => 'February 2: The "Let’s go to Sauraha" campaign launched before the new year to revive the COVID-19 impacted tourism sector of Chitwan district is slowly gaining momentum, as domestic tourists are gradually arriving in Sauraha in an impressive number. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The "Let’s go to Sauraha" campaign launched before the new year to revive the COVID-19 impacted tourism sector of Chitwan district is slowly gaining momentum, as domestic tourists are gradually arriving in Sauraha in an impressive number. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Over 50 per cent of hotels in Sauraha remain occupied during the weekend while over 140 small and big hotels and around 50 restaurants in Sauraha see 40 per cent occupancy during the working days lately, informed Regional Hotel Association Chitwan’s President Deepak Bhattarai. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The local tourism entrepreneurs had targeted major city areas in Province No 2 and Bagmati Province for the campaign besides marketing it in Biratnagar and Dharan among other major cities in Province No 1, shared Bhattarai. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The promotional campaign that was supported by the Tourism Board of Nepal and local units as well as attractive discount scheme in services (20 to 40 per cent) offered by the hotels and restaurants managed to bring in encouraging number of domestic tourists in Sauraha. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Bhattarai, before the outbreak of COVID-19, mostly students were seen coming in Sauraha but lately people visit Sauraha as a couple or in a family to enjoy sight-seeing its rich flora and fauna and enchanting natural landscapes. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Most of the hotels and restaurants in Sauraha that were shut down after the outbreak of COVID-19 pandemic have begun their operation, informed the campaign coordinator Suman Ghimire. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Ghimire said that plans were afoot to launch the campaign nationwide. Restaurant and Bar Association Sauraha’s President Dipendra Khatiwada added that the arrival of tourists in Sauraha during the holidays remains higher while their arrival during the working days is also satisfactory. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sauraha, situated close to Rapti River and the Chitwan National Park, is one of the major tourism destinations in the country that offers multitude of activities for the tourists such as jungle safari either in a jeep or on elephant, bird watching, canoe ride, elephant baths, sunrise and sunset viewing, boating and cultural events among others. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12756', 'image' => '20210202121548_20190415022754_aaa.jpg', 'article_date' => '2021-02-02 12:15:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13009', 'article_category_id' => '1', 'title' => 'Government Sets Up Bird Flu Control Room', 'sub_title' => '', 'summary' => 'February 2: The government has formed a bird flu control room to curb the spread of the H5N1 virus after the disease was detected in a poultry farm in Tarkeshwar Municipality on the outskirts of the capital.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The government has formed a bird flu control room to curb the spread of the H5N1 virus after the disease was detected in a poultry farm in Tarkeshwar Municipality on the outskirts of the capital.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Livestock Services on Friday confirmed bird flu among the turkeys, ducks and quails after a sample test at ward-7 of the municipality. The bird flu control room was formed under the leadership of Damayanti Shrestha, acting director general of the department, on the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department informed that the control room will coordinate with various government bodies including the Nepal Agriculture Research Council, National Public Health Laboratory and the Epidemiology and Disease Control Division. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Information Officer of the department Dr Chandra Dhakal said that the control room is currently working to prevent the disease from spreading in other areas. Dhakal claimed that the department has already succeeded in curbing the disease in Tarkeshwar Municipality.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department has banned poultry farming and animal husbandry in the municipality for the next three months. The control room is preparing to mobilize teams across the country in coordination with the provincial and local governments.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12755', 'image' => '20210202120856_A3 Poster or Handout_Bird Flu Mar 2020 (upload)-400 2.JPG', 'article_date' => '2021-02-02 12:08:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13024', 'article_category_id' => '1', 'title' => 'Local Units Flout Criteria while Recommending Projects under Indian Grant ', 'sub_title' => '', 'summary' => 'February 8: Local governments are found to be recommending projects under the Small Development Project (SDP)—a scheme financed by the Government of India—by going against set criteria.', 'content' => '<h1><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">February 8: Local governments are found to be recommending projects under the Small Development Project (SDP)—a scheme financed by the Government of India—by going against set criteria. </span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">As local units are selecting and recommending projects for the scheme that do not fall under prescribed sectors, the federal government officials say that they have to reject such proposals. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Along with their project proposals, local bodies are also required to submit Detailed Project Report (DPR), cost sharing commitment of respective local unit and evidence confirming availability of land for infrastructure development, among other documents.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Though infrastructure development projects like construction of school, hospital, child care center and library are funded through the SSP, many local governments are selecting projects that do not qualify under this scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">As a result, the Ministry of Federal Affairs and General Administration (MoFAGA) is declining those recommended projects, according to officials at the MoFAGA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">“Local units should follow certain criteria while submitting their projects under the SDP. Many local units do not pay attention to these criteria. Those incomplete proposals are returned to the respective local units. We have been drawing their attention about this issue which is yet to be resolved,” said Bishnu Dutta Gautam, a joint secretary at the MoFAGA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Many projects recommended by local units are related to those areas that are different than those allowed under the scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Going against the upper limit set for the funding under the SDP, some local units have also been found recommending projects with estimated cost higher than Rs 50 million, according to MoFAGA officials. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">After receiving proposals from local governments, the MoFAGA forwards the eligible projects for the funding to the Embassy of India in Kathmandu via the Ministry of Finance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">The Embassy of India in Kathmandu has allocated a budget of Rs 500 million for the SDP for the current fiscal year 2020/21. The Indian government directly releases the budget to the respective local governments based on the progress of the projects selected under this scheme. </span></span></span></p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12770', 'image' => '20210208020500_20160628012102_flag.jpg', 'article_date' => '2021-02-08 14:04:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13023', 'article_category_id' => '1', 'title' => 'CAAN Gives 30-day Ultimatum for Airline Companies to Clear their Dues', 'sub_title' => '', 'summary' => 'February 8: The Civil Aviation Authority of Nepal (CAAN), the aviation regulatory body of Nepal, on Monday (February 8) issued an ultimatum to 11 defunct airline companies to clear their pending dues of Rs 90 million within 30 days.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Tamish Giri</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">February 8: The Civil Aviation Authority of Nepal (CAAN), the aviation regulatory body of Nepal, on Monday (February 8) issued an ultimatum to 11 defunct airline companies to clear their pending dues of Rs 90 million within 30 days.<br /> Issuing a public notice on February 8, CAAN warned the airline companies that it would take severe action if they fail to clear the dues within the deadline.<br /> Raj Kumar Chhetri, deputy director-general and spokesperson of CAAN, informed New Business Age that the regulatory body had previously issued the notice three months ago and had informed the stakeholders about it. However, none of the airlines paid the dues. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“We received enquiries from some airline operators who mentioned that they had sold the company long back and requested to remove their name from the list. We have requested them to bring their documents and meet our finance department regarding it. We want to help them, but they have to clear their pending dues to the government. They don’t have any other alternatives,” he said.<br /> CAAN has warned the airline companies that it would blacklist them and their owners under the Civil Aviation Airport Management Regulation 2011, prohibiting them from operating flights, entering airports and participating in any businesses associated with CAAN in the future, if they don’t clear the pending dues in time.<br /> CAAN has also warned of confiscating the properties of those who guaranteed to pay the dues in case the operators failed to do so.<br /> The regulatory body published the first public notice on February 8 after the airline companies did not clear their dues even after repeated notification.<br /> CAAN has asked to pay the outstanding amount and late fee within 30 days.<br /> The airlines that have not cleared the dues include Necon Air, Shivani Air, Alpine Air, Gorkha Air, Karnali Air, Mountain Air, Cosmic Air, Shangrila Air, Skyline Airways, Air Kasthamandap and Nepal Airways. None of these airlines has been in operation since 2008.<br /> The airlines have to pay a combined fee of Rs 96.874 million to the CAAN.<br /> According to the public notice published by CAAN, Neccon has to pay Rs 47 million, Shiwani Air Rs 5.5 million, Alpine Air Rs 72,728, Gorkha Air Rs 2.03 million, Karnali Air Rs 1.74 million, Mountain Air Rs 1.2 million, Cosmic Air Rs 34.7 million, Shangrila Air Rs 1.53 million, Skyline Air Rs 1.55 million, Air Kasthamandap Rs 0.73 million and Nepal Airways Rs 0.55 million.<br /> “Some international operators also have not cleared their dues, and we will make a public statement soon regarding them,” Chhetri informed.<br /> Sahara, Kingfisher and Jet Airways are yet to clear their pending bills to the CAAN.<br /> "We urge the airline operators to clear the dues abiding by the law," Chhetri added.</span></span></span></span></p> <p> </p> <p><img alt="" src="/app/webroot/userfiles/images/CAAN%281%29.jpeg" style="height:1024px; width:802px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12769', 'image' => '20210208012832_20200827042104_1598477546.Clipboard08.jpg', 'article_date' => '2021-02-08 13:26:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13022', 'article_category_id' => '1', 'title' => '17.57 Million People have Access to Internet via Smartphones ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Manisha Balami</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">February 8: With the rise in use of smartphones, more than half of the population of Nepal has access to internet at their fingertips. The latest Management Information System (MIS) report published by Nepal Telecommunication Authority (NTA) shows that 23.92 million has access to internet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Of the total internet users, 17.57 million are using mobile data. Meanwhile, 6.1 million users are using broadband and 226,662 are using wireless internet service. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Min Prasad Aryal, spokesperson of NTA, states that the 4G expansion by telecom service providers has helped to increase its mobile broadband users. “4G expansion in urban as well as rural areas has resulted in a surge in the use of internet,” he said, adding fund from Rural Telecommunication Development Fund (RTDF) has been granted to the internet service providers to expand the internet service in remote areas of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the telecommunication authority’s data, 11.9 million users are Nepal Telecom subscribers. Among them, 2.04 million are 4G users while 8.43 million are using 3G service of NTC. In the meantime, 6.75 million are using broadband service of Ncell. Among them, 2.67 million are using 3G services while 4.08 million are using 4G service. Likewise, 199,761 are using 4G service of SmartCell. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Aryal further says that the internet consumption has also increased after people were locked down in their houses to avoid coronavirus. As everything was done virtually, the use of internet has increased during the lockdown period. “This trend will increase further in the coming days as digital transactions have also increased and the use of data will also grow exponentially,” said Aryal. </span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12768', 'image' => '20210208112726_wi-fi-internet-connection-on-a-smartphone-icon-vector-7350115.jpg', 'article_date' => '2021-02-08 11:26:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13021', 'article_category_id' => '1', 'title' => 'One Stop Service Center Fails to Deliver Promises of Removing Hassles for Investors ', 'sub_title' => 'Investors are pushed from pillar to post for paperwork as half a dozen government agencies do not have presence at One Stop Service Center ', 'summary' => '', 'content' => '<h1><span style="font-size:18px"><span style="font-family:Cambria">SAGAR GHIMIRE</span></span></h1> <p><span style="font-size:18px"><span style="font-family:Cambria">February 8: Even after one and a half years of establishment, the One Stop Service Center (OSSC) set up by the government to deal with investors is operating in the absence of representatives of over half a dozen government agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Due to a long delay by these government agencies in sending their representatives to the OSSC, investors continue to face trouble to get their work done. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The OSSC was established at the premises of the Department of Industry (DoI) in May 2019 with an objective of providing all services—ranging from approval of investments to exit of an industry—for investors from a single place. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">To offer all services required for investors, the government promised to house 13 government agencies in the One Stop Service Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">However, seven agencies are yet to show their presence at the OSSC, requiring investors to visit the respective office of these agencies for the paperwork.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Despite promises from the government that the single-window would cut hassles, cost and time for investors, the reality is different at the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Crucial government agencies like the Ministry of Physical Infrastructure and Transportation, Ministry of Forest and Environment, Office of the Company Registrar and Nepal Electricity Authority have not sent their representatives to the OSSC yet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Investors and experts say that the OSSC cannot meet its objectives without bringing all government agencies dealing with investment on board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“It was said that all services are available from the OSSC. But, that’s not the case here. I was told that we should visit offices of some agencies that are not here to get their services,” a lawyer visiting the OSSC to get information for a Japanese investor told New Business Age. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Even the Office of the Company Registrar does not have a representative here. If asked, staff here would point towards the building of the Office of the Company Registrar nearby. Establishment of the OSSC should have ended the hassle of visiting various government agencies,” he added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">However, Gyanendra Parajuli, director at the Department of Industry, claims that the absence of various agencies have not made a significant impact on the overall work of the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Investors rarely seek services of those agencies which have not sent their representatives yet. But, these agencies will also send their representatives gradually in line with the spirit of the OSSC,” said Parajuli, who is also the spokesperson of the DoI. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">A study carried out by the DoI recently concluded that the absence of representatives of seven agencies at the OSSC is a managerial issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Absence of various government agencies is not the only issue hampering the performance of the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Even the representatives of various agencies who have been deputed at the OSSC cannot make decision in all cases. As they do not have the authority to decide themselves in all cases, they have to forward those files to the respective agencies for approval. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“The intention of setting up OSSC is good. However, investors have not been able to experience anything worthwhile after this mechanism came into operation,” Shabda Gyawali, Investment Director at Dolma Impact Fund, told New Business Age. “While there are some government agencies that are yet to send their representatives to the OSSC, those who already have their desks cannot promptly make decision in many cases. What’s the difference now and then? Earlier, investors had to visit Nepal Rastra Bank whereas staff at their desk of the OSSC forwards the files now,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Dolma Impact Fund is the first international private equity and impact fund dedicated to Nepal and provides capital and expertise to growth companies related to sectors like renewable energy, agriculture, health and tourism. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Gyawali said that the government should implement a system that approves investment on certain sectors through automatic route to end hassles for foreign investors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Admitting that staff working at the OSSC cannot make decision themselves in certain cases, DoI’s Director Parajuli said that respective agencies should delegate them full authority. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to the DoI, it has approved 129 projects in the first six months of the current fiscal year 2020/21 for foreign direct investments worth Rs 25.26 billion. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Cambria"><strong><em>Government agencies yet to send representatives: </em></strong></span></span></p> <ol> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Physical Infrastructure and Transport</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Forests and Environment</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Labor, Employment and Social Security </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Department of Commerce, Supplies and Consumer Interest Protection</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Office of Company Registrar </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Nepal Electricity Authority </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Nepal Telecommunication Authority </span></span></li> </ol> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12767', 'image' => '20210208111509_20160513034506_editor.jpg', 'article_date' => '2021-02-08 11:13:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13020', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up in January ', 'sub_title' => '', 'summary' => 'February 5: With the fall in number of Covid-19 cases in Nepal, the number of foreign nationals arriving in the country has grown in January compared to the previous months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">February 5: With the fall in number of Covid-19 cases in Nepal, the number of foreign nationals arriving in the country has grown in January compared to the previous months.<br /> According to the data provided by the Department of Immigration, a total of 8,874 foreign nationals visited Nepal in the first month of 2021. Among them, 6,225 were male, 2,635 were female, while 14 were unverified, as per the department’s data.<br /> The reported number of tourist arrival is the highest since March 2020, when 42,776 tourists had visited Nepal.<br /> Mani Raj Lamichhane, director of Nepal Tourism Board, informed that the number of foreigners arriving in Nepal has increased following the air bubble agreement between Nepal and India and the drastic fall in Covid-19 cases.<br /> "News about Covid-19 vaccination in the western countries, the introduction of vaccination in Nepal and a drastic decline in Covid-19 casualties have motivated the foreigners to travel to Nepal," Lamichhane added. <br /> Likewise, online promotions of NTB through various channels and virtual meets have also attracted the foreigners to Nepal.<br /> Nepal recorded the lowest number of tourist arrival with just 14 visitors in April last year and 9,420 foreigners between April and December 2020.<br /> According to the Department of Immigration, foreign nationals of 121 different nations had visited Nepal in January this year, while 39,946 Nepalis left the country.<br /> Altogether 4,028 Indian nationals, 1,877 Chinese and 874 Americans and 39 UN officials had entered Nepal in January along with 47,267 Nepalis. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-05', 'modified' => '2021-02-05', 'keywords' => '', 'description' => '', 'sortorder' => '12766', 'image' => '20210205105042_20201125014618_20201016032657_1602804123.Clipboard13.jpg', 'article_date' => '2021-02-05 10:49:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13019', 'article_category_id' => '1', 'title' => 'Base Rate of All Commercial Banks Decline', 'sub_title' => '', 'summary' => 'February 3: The base rate of commercial banks has dropped in the second quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The base rate of commercial banks has dropped in the second quarter of the current fiscal year. It has been learnt that the base rate has dropped as a result of banks reducing the cost of deposits. As the base rate has dropped, customers of the banks have started getting loans at a cheaper rate of interest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of 27 commercial banks have dropped to a minimum of 5.61 percent and a maximum of 8.45 percent as of mid-January. The lowest base rate is of the state-owned Rastriya Banijya Bank while Civil Bank has the highest base rate.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of commercial banks were in double digits until a year ago. Due to this, the rate of interest on loan was high during last year. But the base rates of all the banks have dropped to single digit this year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of commercial banks have dropped between 0.00 percentage points to 2.53 percentage points in the second quarter of the current fiscal year compared to the corresponding period of last FY. The average base rate of commercial banks is 7.19 percent.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the decline in base rate, the floating interest will also decline but it will not have any impact on fixed interest rate, says Bhuvan Kumar Dahal, chairman of Nepal Bankers’ Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The base rates of all banks have declined. Now the customers can avail loan at cheaper floating interest rate,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12765', 'image' => '20210203045517_20200824042834_INTEREST-RATE.jpg', 'article_date' => '2021-02-03 16:54:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13018', 'article_category_id' => '1', 'title' => 'Footwear Business Expo Kicks Off ', 'sub_title' => '', 'summary' => 'February 3: The Footwear Business Expo, organized by the Footwear Manufacturers’ Association of Nepal, has kicked off at the Exhibition Hall in Bhrikutimandap, Kathmandu from Wednesday, February 3.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria">February 3: The Footwear Business Expo, organized by the Footwear Manufacturers’ Association of Nepal, has kicked off at the Exhibition Hall in Bhrikutimandap, Kathmandu from Wednesday, February 3. The 20-day long event is being organised with the slogan ‘Our Campaign- Promotion of domestic products’. The expo will end on 22<sup>nd</sup> March.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Krishna Kumar Phuyal, chairman of the Footwear Manufacturers’ Association of Nepal (FMAN) and coordinator of the expo said, “This expo has been organized to uplift the economy that has been badly affected by COVID-19”. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Phuyal added that the customers are becoming increasingly aware about the value of locally-made products. “They are more affectionate about it so this is our attempt to present locally made footwear from various brands among the customers,” he further added. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The expo is offering shoes of about 3000 models with prices ranging from Rs 300 to Rs 10,000. The organizers of the expo are expecting 500,000 visitors during the expo. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Homnath Poudel, former president of FMAN, claimed that all the Nepalese brands have participated in the event and asked visitors to visit the event and promote Nepali products. He also informed that FMAN will be organizing footwear expo in each province from this year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12764', 'image' => '20210203043705_20181225010006_Clipboard01.jpg', 'article_date' => '2021-02-03 16:36:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13015', 'article_category_id' => '1', 'title' => '42 Companies Shortlisted for Upgrading Nagdhunga-Malekhu-Muglin Road Section', 'sub_title' => '', 'summary' => 'February 3: The Department of Roads (DoR) has shortlisted 42 companies for upgrading the Nagdhunga-Malekhu-Muglin section of Prithvi Highway. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">February 3: The Department of Roads (DoR) has shortlisted 42 companies for upgrading the Nagdhunga-Malekhu-Muglin section of Prithvi Highway. Majority of those companies that made it to the pre-qualification round of selection process are Chinese companies. According to the DoR, a total of 30 Chinese companies were shortlisted in response to a global tender issued by the department while the remaining 12 companies are from Nepal and India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The government has allocated Rs 16 billion for upgrading the 96 km section of the highway but only Rs 9 billion has been released for the current upgradation work. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The department is preparing to complete the project in three packages and these 42 companies have been shortlisted to upgrade the Nagdhunga-Naubise and Naubise-Malekhu sections of the highway under the first and second packages respectively. A total of 56 kilometers of road fall under these two packages. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Deputy Director General of the Development Support Implementation Division of the Department of Roads, Arjun Jung Thapa informed that all the companies that fulfilled the criteria mentioned in the tender have been selected in the pre-qualification round. Thapa added that there will be competition among the shortlisted companies to select the best among them. The department will now seek financial proposals from the shortlisted companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">A tender for upgrading the Malekhu-Muglin section under the third package worth Rs 7 billion will be announced soon, added Thapa. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The process of upgrading the road section has started after the World Bank released funds for the project some eight months ago. The same road was earlier upgraded with the financial assistance of the World Bank about 29 years ago.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12763', 'image' => '20210203120420_20200611120202_WB Road Project.jpg', 'article_date' => '2021-02-03 12:03:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13017', 'article_category_id' => '1', 'title' => 'Samrat Cement to Produce 7 MW Electricity within 3 Months', 'sub_title' => '', 'summary' => 'February 3: Samrat Cement Industry is preparing to produce 7 megawatts of electricity a day in addition to 2,000 metric tons of clinker per day. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">February 3: Samrat Cement Industry is preparing to produce 7 megawatts of electricity a day in addition to 2,000 metric tons of clinker per day. The company, which was formally launched on November 30, 2020, will be utilizing the byproducts like hot air and garbage to produce electricity.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The company has been producing both cement and clinker. According to the company, it will be able to to produce 7 megawatts of electricity while producing 4,500 metric tons of clinker from all its plants. Chairman of the industry Mukunda Timilsina informed that preparations are underway to produce 7 megawatts of electricity within three months. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Once the industry starts producing electricity on its own, it plans to reduce the purchase of electricity from the Nepal Electricity Authority.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The cement industry currently requires 22 megawatts of electricity on a daily basis for its operation.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Within two months of operation, Samrat Cement Industry has started producing 2,000 metric tons of clinker per day which is half of its total capacity. The industry plans to produce 2,500 metric tons of additional clinker within a month.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Samrat Cement has been using limestone from mines in Dang and Rolpa district.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12762', 'image' => '20210203023030_My Effect.jpg', 'article_date' => '2021-02-03 14:29:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13016', 'article_category_id' => '1', 'title' => ' Rain and Snowfall in Forecast ', 'sub_title' => '', 'summary' => 'February 3: The weather will be cloudy throughout the country from Thursday to Saturday (February 4 to 6) with chances of precipitation in many places, the state-owned national news agency RSS reported citing the Department of Hydrology and Meteorology. ', 'content' => '<p><em>This file photo taken from the archives of New Business Age shows heavy snowfall in Dolakha.</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The weather will be cloudy throughout the country from Thursday to Saturday (February 4 to 6) with chances of precipitation in many places, the state-owned national news agency RSS reported citing the Department of Hydrology and Meteorology. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Light rainfall will take place in most of the areas of the country while snowfall will likely occur in the high hills and mountainous areas as the westerly wind will become active from Thursday, RSS quoted meteorologist Shanti Kandel as saying. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Kandel, the temperature will start rising after this weather system exits and it will be hotter. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The weather was partly cloudy in the hill areas while it was fair in the rest of the country on Tuesday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The weather update shared by the Meteorological Forecasting Division shows the minimum temperature of Kathmandu at 2.7 degrees Celsius and the maximum temperature at 18.8 degrees Celsius on Tuesday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the lowest minimum temperature was recorded in Jumla. The lowest minimum temperature in Jumla was minus 4.5 degrees Celsius while Birendranagar recorded the highest minimum temperature of 8.2 degrees Celsius on Tuesday. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12761', 'image' => '20210203122659_20181230033201_2222.jpg', 'article_date' => '2021-02-03 12:25:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13013', 'article_category_id' => '1', 'title' => 'Over a Dozen Commercial Banks Report Increase in NPL', 'sub_title' => '', 'summary' => 'February 2: The non-performing loans (NPL) of more than a dozen commercial banks have increased in the second quarter of the current fiscal year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The non-performing loans (NPL) of more than a dozen commercial banks have increased in the second quarter of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Out of the 27 commercial banks, 14 have stated that the nonperforming loans in the second quarter of the current fiscal year have increased compared to the corresponding period of last fiscal year. Other 12 commercial banks have reported that their NPL is under control while Century Commercial Bank has reported NPL equal to that of the previous year. In the first quarter of the current fiscal year, 18 commercial banks had reported increase in NPL.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned Rastriya Banijya Bank has the highest amount of NPL among all commercial banks this year. The bank’s NPL was 4.23 percent in the second quarter of the current FY, which is still better than 4.77 percent during the corresponding period of last fiscal year. Rastriya Banijya Bank has stated that it is facing problem in collecting installments of loan due to the impact of Covid-19. Other two state-owned banks – Agriculture Development Bank and Nepal Bank Limited – stand second and third among the commercial banks with high non-performing loans. The non-performing loan of Agriculture Development Bank was 3.14 percent during the review period while that of Nepal Bank Limited was 2.88 percent.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Citizen’s Bank has reported a rise in NPL this year compared to last year. The bank’s NPL during the review period was 2.42 percent against 0.99 percent last year. Similarly, Standard Chartered Bank also reported an increase in NPL from 0.17 percent last year to 1.54 percent this year. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The NPL of other commercial banks during the review period are as follows: NMB Bank (2.38 percent), Nepal Bangladesh Bank (2.37 percent), Himalayan Bank (2.13 percent), Siddhartha Bank (1.91 percent), Global IME Bank (1.72 percent), Mega Bank (1.71 percent), and Kumari Bank (1.06 percent).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The financial reports issued by Machhapuchchhre Bank, Sanima Bank, Nepal SBI Bank and Everest Bank also reported increase in NPL below 1 percentage point.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12760', 'image' => '20210202041717_PIMCO_Blog_NPL_Nov17_55361_670x440.jpg', 'article_date' => '2021-02-02 16:16:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13014', 'article_category_id' => '1', 'title' => 'NEPSE at All-Time High Record ', 'sub_title' => '', 'summary' => 'February 3: The Nepal Stock Exchange (NEPSE) – an indicator to measure share transaction in the stock market – has reached the highest-ever points. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The Nepal Stock Exchange (NEPSE) – an indicator to measure share transaction in the stock market – has reached the highest-ever points. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the latest rise on February 2, the NEPSE has bounced to reach 2,500 points. According to the NEPSE, the stock market has touched 2,473.73 points with a gain of 65.49 points on Tuesday (February 2) alone. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Likewise, the sensitive index, which measures share transaction of big companies, has also gained 14.10 points to reach 451.38 points. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Along with the rise in NEPSE index, the traded amount has also witnessed increment. Total volume of shares traded on Tuesday were over Rs 8.59 billion. Shares of 200 companies were traded, NEPSE sources said. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The share market capitalization has reached Rs 3300 billion with the latest increment. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12759', 'image' => '20210203112246_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2021-02-03 11:22:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13011', 'article_category_id' => '1', 'title' => 'SJVN Limited to Export 79 Percent Electricity to India, Nepal to get 21 Percent Free of Cost', 'sub_title' => '', 'summary' => 'February 2: India’s SJVN Limited, which has been selected for the project framework development of the 679-megawatt Lower Arun Hydropower Project, will be taking away 79 percent of electricity generated by the project to India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">February 2: India’s SJVN Limited, which has been selected for the project framework development of the 679-megawatt Lower Arun Hydropower Project, will be taking away 79 percent of electricity generated by the project to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Indian company will be exporting 536.41 megawatts of electricity to India once the project starts generating electricity. Nepal will be getting 21 percent of electricity (146.37 megawatts) generated by the project free of cost. The company had included such clauses while submitting proposal for the project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Following the selection of SJVN Limited, the total number of hydropower projects developed for exporting electricity from Nepal has now reached three. Other such projects include 900-megawatt Arun III Hydropower Project, which is also being developed by SJVN Limited, and 900-megawatt Upper Karnali Hydropower Project which is undertaken by India’s GMR Company. Both of these companies will be exporting electricity to India after providing a certain amount of electricity free of cost to Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal will receive 21.88 percent electricity from the Lower Arun III and 12 percent electricity from Upper Karnali.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Investment Board Nepal had last week selected SJVN Limited for the framework development of Lower Arun Hydropower Project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">SJVN Limited’s competitor from China had proposed providing 25 percent free electricity to Nepal. However, SJVN scored more points in overall criteria set by the government and therefore the project was handed over to the Indian company, the board informed New Business Age. A high-ranking source at the Ministry of Energy said on condition of anonymity that SJVN Limited scored three points more than the Chinese company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We didn’t evaluate the proposals only on the basis of free electricity offer. SJNV scored more points while evaluating all the criteria set by the government,” said the source, adding that the Chinese company scored 80 points while the Indian company scored 83 points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The company’s proposal has already been approved by the Government of Nepal after it was selected for project framework development. However, there are possibilities of amending the proposal of the Indian company while signing the project development agreement (PDA).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Firstly, the board will sign an agreement with the company for project framework development. Then the board will give survey license and then the permission for construction of the project, which will be followed by PDA between the company and the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">IBN Spokesperson Dharmendra Kumar Mishra said that the two sides can negotiate on the proposal made by the company before signing the PDA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Both sides will hold discussions on the proposal made by the company before signing the PDA. The proposal can be amended in this process,” said Mishra.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The framework for the project will be developed as Build, Own, Operate and Transfer (BOOT) model under the public-private partnership framework.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12757', 'image' => '20210202021045_20150823012330_ep1.jpg', 'article_date' => '2021-02-02 14:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13010', 'article_category_id' => '1', 'title' => '50 Percent Hotel Occupancy in Sauraha following New Year Campaign', 'sub_title' => '‘Let's Go to Sauraha’ Campaign Brings Tourists in Hordes', 'summary' => 'February 2: The "Let’s go to Sauraha" campaign launched before the new year to revive the COVID-19 impacted tourism sector of Chitwan district is slowly gaining momentum, as domestic tourists are gradually arriving in Sauraha in an impressive number. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The "Let’s go to Sauraha" campaign launched before the new year to revive the COVID-19 impacted tourism sector of Chitwan district is slowly gaining momentum, as domestic tourists are gradually arriving in Sauraha in an impressive number. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Over 50 per cent of hotels in Sauraha remain occupied during the weekend while over 140 small and big hotels and around 50 restaurants in Sauraha see 40 per cent occupancy during the working days lately, informed Regional Hotel Association Chitwan’s President Deepak Bhattarai. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The local tourism entrepreneurs had targeted major city areas in Province No 2 and Bagmati Province for the campaign besides marketing it in Biratnagar and Dharan among other major cities in Province No 1, shared Bhattarai. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The promotional campaign that was supported by the Tourism Board of Nepal and local units as well as attractive discount scheme in services (20 to 40 per cent) offered by the hotels and restaurants managed to bring in encouraging number of domestic tourists in Sauraha. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Bhattarai, before the outbreak of COVID-19, mostly students were seen coming in Sauraha but lately people visit Sauraha as a couple or in a family to enjoy sight-seeing its rich flora and fauna and enchanting natural landscapes. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Most of the hotels and restaurants in Sauraha that were shut down after the outbreak of COVID-19 pandemic have begun their operation, informed the campaign coordinator Suman Ghimire. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Ghimire said that plans were afoot to launch the campaign nationwide. Restaurant and Bar Association Sauraha’s President Dipendra Khatiwada added that the arrival of tourists in Sauraha during the holidays remains higher while their arrival during the working days is also satisfactory. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sauraha, situated close to Rapti River and the Chitwan National Park, is one of the major tourism destinations in the country that offers multitude of activities for the tourists such as jungle safari either in a jeep or on elephant, bird watching, canoe ride, elephant baths, sunrise and sunset viewing, boating and cultural events among others. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12756', 'image' => '20210202121548_20190415022754_aaa.jpg', 'article_date' => '2021-02-02 12:15:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13009', 'article_category_id' => '1', 'title' => 'Government Sets Up Bird Flu Control Room', 'sub_title' => '', 'summary' => 'February 2: The government has formed a bird flu control room to curb the spread of the H5N1 virus after the disease was detected in a poultry farm in Tarkeshwar Municipality on the outskirts of the capital.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The government has formed a bird flu control room to curb the spread of the H5N1 virus after the disease was detected in a poultry farm in Tarkeshwar Municipality on the outskirts of the capital.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Livestock Services on Friday confirmed bird flu among the turkeys, ducks and quails after a sample test at ward-7 of the municipality. The bird flu control room was formed under the leadership of Damayanti Shrestha, acting director general of the department, on the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department informed that the control room will coordinate with various government bodies including the Nepal Agriculture Research Council, National Public Health Laboratory and the Epidemiology and Disease Control Division. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Information Officer of the department Dr Chandra Dhakal said that the control room is currently working to prevent the disease from spreading in other areas. Dhakal claimed that the department has already succeeded in curbing the disease in Tarkeshwar Municipality.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department has banned poultry farming and animal husbandry in the municipality for the next three months. The control room is preparing to mobilize teams across the country in coordination with the provincial and local governments.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12755', 'image' => '20210202120856_A3 Poster or Handout_Bird Flu Mar 2020 (upload)-400 2.JPG', 'article_date' => '2021-02-02 12:08:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13024', 'article_category_id' => '1', 'title' => 'Local Units Flout Criteria while Recommending Projects under Indian Grant ', 'sub_title' => '', 'summary' => 'February 8: Local governments are found to be recommending projects under the Small Development Project (SDP)—a scheme financed by the Government of India—by going against set criteria.', 'content' => '<h1><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">February 8: Local governments are found to be recommending projects under the Small Development Project (SDP)—a scheme financed by the Government of India—by going against set criteria. </span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">As local units are selecting and recommending projects for the scheme that do not fall under prescribed sectors, the federal government officials say that they have to reject such proposals. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Along with their project proposals, local bodies are also required to submit Detailed Project Report (DPR), cost sharing commitment of respective local unit and evidence confirming availability of land for infrastructure development, among other documents.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Though infrastructure development projects like construction of school, hospital, child care center and library are funded through the SSP, many local governments are selecting projects that do not qualify under this scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">As a result, the Ministry of Federal Affairs and General Administration (MoFAGA) is declining those recommended projects, according to officials at the MoFAGA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">“Local units should follow certain criteria while submitting their projects under the SDP. Many local units do not pay attention to these criteria. Those incomplete proposals are returned to the respective local units. We have been drawing their attention about this issue which is yet to be resolved,” said Bishnu Dutta Gautam, a joint secretary at the MoFAGA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Many projects recommended by local units are related to those areas that are different than those allowed under the scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Going against the upper limit set for the funding under the SDP, some local units have also been found recommending projects with estimated cost higher than Rs 50 million, according to MoFAGA officials. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">After receiving proposals from local governments, the MoFAGA forwards the eligible projects for the funding to the Embassy of India in Kathmandu via the Ministry of Finance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">The Embassy of India in Kathmandu has allocated a budget of Rs 500 million for the SDP for the current fiscal year 2020/21. The Indian government directly releases the budget to the respective local governments based on the progress of the projects selected under this scheme. </span></span></span></p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12770', 'image' => '20210208020500_20160628012102_flag.jpg', 'article_date' => '2021-02-08 14:04:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13023', 'article_category_id' => '1', 'title' => 'CAAN Gives 30-day Ultimatum for Airline Companies to Clear their Dues', 'sub_title' => '', 'summary' => 'February 8: The Civil Aviation Authority of Nepal (CAAN), the aviation regulatory body of Nepal, on Monday (February 8) issued an ultimatum to 11 defunct airline companies to clear their pending dues of Rs 90 million within 30 days.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Tamish Giri</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">February 8: The Civil Aviation Authority of Nepal (CAAN), the aviation regulatory body of Nepal, on Monday (February 8) issued an ultimatum to 11 defunct airline companies to clear their pending dues of Rs 90 million within 30 days.<br /> Issuing a public notice on February 8, CAAN warned the airline companies that it would take severe action if they fail to clear the dues within the deadline.<br /> Raj Kumar Chhetri, deputy director-general and spokesperson of CAAN, informed New Business Age that the regulatory body had previously issued the notice three months ago and had informed the stakeholders about it. However, none of the airlines paid the dues. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“We received enquiries from some airline operators who mentioned that they had sold the company long back and requested to remove their name from the list. We have requested them to bring their documents and meet our finance department regarding it. We want to help them, but they have to clear their pending dues to the government. They don’t have any other alternatives,” he said.<br /> CAAN has warned the airline companies that it would blacklist them and their owners under the Civil Aviation Airport Management Regulation 2011, prohibiting them from operating flights, entering airports and participating in any businesses associated with CAAN in the future, if they don’t clear the pending dues in time.<br /> CAAN has also warned of confiscating the properties of those who guaranteed to pay the dues in case the operators failed to do so.<br /> The regulatory body published the first public notice on February 8 after the airline companies did not clear their dues even after repeated notification.<br /> CAAN has asked to pay the outstanding amount and late fee within 30 days.<br /> The airlines that have not cleared the dues include Necon Air, Shivani Air, Alpine Air, Gorkha Air, Karnali Air, Mountain Air, Cosmic Air, Shangrila Air, Skyline Airways, Air Kasthamandap and Nepal Airways. None of these airlines has been in operation since 2008.<br /> The airlines have to pay a combined fee of Rs 96.874 million to the CAAN.<br /> According to the public notice published by CAAN, Neccon has to pay Rs 47 million, Shiwani Air Rs 5.5 million, Alpine Air Rs 72,728, Gorkha Air Rs 2.03 million, Karnali Air Rs 1.74 million, Mountain Air Rs 1.2 million, Cosmic Air Rs 34.7 million, Shangrila Air Rs 1.53 million, Skyline Air Rs 1.55 million, Air Kasthamandap Rs 0.73 million and Nepal Airways Rs 0.55 million.<br /> “Some international operators also have not cleared their dues, and we will make a public statement soon regarding them,” Chhetri informed.<br /> Sahara, Kingfisher and Jet Airways are yet to clear their pending bills to the CAAN.<br /> "We urge the airline operators to clear the dues abiding by the law," Chhetri added.</span></span></span></span></p> <p> </p> <p><img alt="" src="/app/webroot/userfiles/images/CAAN%281%29.jpeg" style="height:1024px; width:802px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12769', 'image' => '20210208012832_20200827042104_1598477546.Clipboard08.jpg', 'article_date' => '2021-02-08 13:26:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13022', 'article_category_id' => '1', 'title' => '17.57 Million People have Access to Internet via Smartphones ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Manisha Balami</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">February 8: With the rise in use of smartphones, more than half of the population of Nepal has access to internet at their fingertips. The latest Management Information System (MIS) report published by Nepal Telecommunication Authority (NTA) shows that 23.92 million has access to internet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Of the total internet users, 17.57 million are using mobile data. Meanwhile, 6.1 million users are using broadband and 226,662 are using wireless internet service. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Min Prasad Aryal, spokesperson of NTA, states that the 4G expansion by telecom service providers has helped to increase its mobile broadband users. “4G expansion in urban as well as rural areas has resulted in a surge in the use of internet,” he said, adding fund from Rural Telecommunication Development Fund (RTDF) has been granted to the internet service providers to expand the internet service in remote areas of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the telecommunication authority’s data, 11.9 million users are Nepal Telecom subscribers. Among them, 2.04 million are 4G users while 8.43 million are using 3G service of NTC. In the meantime, 6.75 million are using broadband service of Ncell. Among them, 2.67 million are using 3G services while 4.08 million are using 4G service. Likewise, 199,761 are using 4G service of SmartCell. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Aryal further says that the internet consumption has also increased after people were locked down in their houses to avoid coronavirus. As everything was done virtually, the use of internet has increased during the lockdown period. “This trend will increase further in the coming days as digital transactions have also increased and the use of data will also grow exponentially,” said Aryal. </span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12768', 'image' => '20210208112726_wi-fi-internet-connection-on-a-smartphone-icon-vector-7350115.jpg', 'article_date' => '2021-02-08 11:26:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13021', 'article_category_id' => '1', 'title' => 'One Stop Service Center Fails to Deliver Promises of Removing Hassles for Investors ', 'sub_title' => 'Investors are pushed from pillar to post for paperwork as half a dozen government agencies do not have presence at One Stop Service Center ', 'summary' => '', 'content' => '<h1><span style="font-size:18px"><span style="font-family:Cambria">SAGAR GHIMIRE</span></span></h1> <p><span style="font-size:18px"><span style="font-family:Cambria">February 8: Even after one and a half years of establishment, the One Stop Service Center (OSSC) set up by the government to deal with investors is operating in the absence of representatives of over half a dozen government agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Due to a long delay by these government agencies in sending their representatives to the OSSC, investors continue to face trouble to get their work done. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The OSSC was established at the premises of the Department of Industry (DoI) in May 2019 with an objective of providing all services—ranging from approval of investments to exit of an industry—for investors from a single place. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">To offer all services required for investors, the government promised to house 13 government agencies in the One Stop Service Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">However, seven agencies are yet to show their presence at the OSSC, requiring investors to visit the respective office of these agencies for the paperwork.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Despite promises from the government that the single-window would cut hassles, cost and time for investors, the reality is different at the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Crucial government agencies like the Ministry of Physical Infrastructure and Transportation, Ministry of Forest and Environment, Office of the Company Registrar and Nepal Electricity Authority have not sent their representatives to the OSSC yet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Investors and experts say that the OSSC cannot meet its objectives without bringing all government agencies dealing with investment on board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“It was said that all services are available from the OSSC. But, that’s not the case here. I was told that we should visit offices of some agencies that are not here to get their services,” a lawyer visiting the OSSC to get information for a Japanese investor told New Business Age. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Even the Office of the Company Registrar does not have a representative here. If asked, staff here would point towards the building of the Office of the Company Registrar nearby. Establishment of the OSSC should have ended the hassle of visiting various government agencies,” he added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">However, Gyanendra Parajuli, director at the Department of Industry, claims that the absence of various agencies have not made a significant impact on the overall work of the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Investors rarely seek services of those agencies which have not sent their representatives yet. But, these agencies will also send their representatives gradually in line with the spirit of the OSSC,” said Parajuli, who is also the spokesperson of the DoI. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">A study carried out by the DoI recently concluded that the absence of representatives of seven agencies at the OSSC is a managerial issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Absence of various government agencies is not the only issue hampering the performance of the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Even the representatives of various agencies who have been deputed at the OSSC cannot make decision in all cases. As they do not have the authority to decide themselves in all cases, they have to forward those files to the respective agencies for approval. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“The intention of setting up OSSC is good. However, investors have not been able to experience anything worthwhile after this mechanism came into operation,” Shabda Gyawali, Investment Director at Dolma Impact Fund, told New Business Age. “While there are some government agencies that are yet to send their representatives to the OSSC, those who already have their desks cannot promptly make decision in many cases. What’s the difference now and then? Earlier, investors had to visit Nepal Rastra Bank whereas staff at their desk of the OSSC forwards the files now,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Dolma Impact Fund is the first international private equity and impact fund dedicated to Nepal and provides capital and expertise to growth companies related to sectors like renewable energy, agriculture, health and tourism. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Gyawali said that the government should implement a system that approves investment on certain sectors through automatic route to end hassles for foreign investors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Admitting that staff working at the OSSC cannot make decision themselves in certain cases, DoI’s Director Parajuli said that respective agencies should delegate them full authority. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to the DoI, it has approved 129 projects in the first six months of the current fiscal year 2020/21 for foreign direct investments worth Rs 25.26 billion. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Cambria"><strong><em>Government agencies yet to send representatives: </em></strong></span></span></p> <ol> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Physical Infrastructure and Transport</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Forests and Environment</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Labor, Employment and Social Security </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Department of Commerce, Supplies and Consumer Interest Protection</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Office of Company Registrar </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Nepal Electricity Authority </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Nepal Telecommunication Authority </span></span></li> </ol> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12767', 'image' => '20210208111509_20160513034506_editor.jpg', 'article_date' => '2021-02-08 11:13:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13020', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up in January ', 'sub_title' => '', 'summary' => 'February 5: With the fall in number of Covid-19 cases in Nepal, the number of foreign nationals arriving in the country has grown in January compared to the previous months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">February 5: With the fall in number of Covid-19 cases in Nepal, the number of foreign nationals arriving in the country has grown in January compared to the previous months.<br /> According to the data provided by the Department of Immigration, a total of 8,874 foreign nationals visited Nepal in the first month of 2021. Among them, 6,225 were male, 2,635 were female, while 14 were unverified, as per the department’s data.<br /> The reported number of tourist arrival is the highest since March 2020, when 42,776 tourists had visited Nepal.<br /> Mani Raj Lamichhane, director of Nepal Tourism Board, informed that the number of foreigners arriving in Nepal has increased following the air bubble agreement between Nepal and India and the drastic fall in Covid-19 cases.<br /> "News about Covid-19 vaccination in the western countries, the introduction of vaccination in Nepal and a drastic decline in Covid-19 casualties have motivated the foreigners to travel to Nepal," Lamichhane added. <br /> Likewise, online promotions of NTB through various channels and virtual meets have also attracted the foreigners to Nepal.<br /> Nepal recorded the lowest number of tourist arrival with just 14 visitors in April last year and 9,420 foreigners between April and December 2020.<br /> According to the Department of Immigration, foreign nationals of 121 different nations had visited Nepal in January this year, while 39,946 Nepalis left the country.<br /> Altogether 4,028 Indian nationals, 1,877 Chinese and 874 Americans and 39 UN officials had entered Nepal in January along with 47,267 Nepalis. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-05', 'modified' => '2021-02-05', 'keywords' => '', 'description' => '', 'sortorder' => '12766', 'image' => '20210205105042_20201125014618_20201016032657_1602804123.Clipboard13.jpg', 'article_date' => '2021-02-05 10:49:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13019', 'article_category_id' => '1', 'title' => 'Base Rate of All Commercial Banks Decline', 'sub_title' => '', 'summary' => 'February 3: The base rate of commercial banks has dropped in the second quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The base rate of commercial banks has dropped in the second quarter of the current fiscal year. It has been learnt that the base rate has dropped as a result of banks reducing the cost of deposits. As the base rate has dropped, customers of the banks have started getting loans at a cheaper rate of interest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of 27 commercial banks have dropped to a minimum of 5.61 percent and a maximum of 8.45 percent as of mid-January. The lowest base rate is of the state-owned Rastriya Banijya Bank while Civil Bank has the highest base rate.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of commercial banks were in double digits until a year ago. Due to this, the rate of interest on loan was high during last year. But the base rates of all the banks have dropped to single digit this year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of commercial banks have dropped between 0.00 percentage points to 2.53 percentage points in the second quarter of the current fiscal year compared to the corresponding period of last FY. The average base rate of commercial banks is 7.19 percent.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the decline in base rate, the floating interest will also decline but it will not have any impact on fixed interest rate, says Bhuvan Kumar Dahal, chairman of Nepal Bankers’ Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The base rates of all banks have declined. Now the customers can avail loan at cheaper floating interest rate,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12765', 'image' => '20210203045517_20200824042834_INTEREST-RATE.jpg', 'article_date' => '2021-02-03 16:54:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13018', 'article_category_id' => '1', 'title' => 'Footwear Business Expo Kicks Off ', 'sub_title' => '', 'summary' => 'February 3: The Footwear Business Expo, organized by the Footwear Manufacturers’ Association of Nepal, has kicked off at the Exhibition Hall in Bhrikutimandap, Kathmandu from Wednesday, February 3.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria">February 3: The Footwear Business Expo, organized by the Footwear Manufacturers’ Association of Nepal, has kicked off at the Exhibition Hall in Bhrikutimandap, Kathmandu from Wednesday, February 3. The 20-day long event is being organised with the slogan ‘Our Campaign- Promotion of domestic products’. The expo will end on 22<sup>nd</sup> March.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Krishna Kumar Phuyal, chairman of the Footwear Manufacturers’ Association of Nepal (FMAN) and coordinator of the expo said, “This expo has been organized to uplift the economy that has been badly affected by COVID-19”. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Phuyal added that the customers are becoming increasingly aware about the value of locally-made products. “They are more affectionate about it so this is our attempt to present locally made footwear from various brands among the customers,” he further added. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The expo is offering shoes of about 3000 models with prices ranging from Rs 300 to Rs 10,000. The organizers of the expo are expecting 500,000 visitors during the expo. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Homnath Poudel, former president of FMAN, claimed that all the Nepalese brands have participated in the event and asked visitors to visit the event and promote Nepali products. He also informed that FMAN will be organizing footwear expo in each province from this year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12764', 'image' => '20210203043705_20181225010006_Clipboard01.jpg', 'article_date' => '2021-02-03 16:36:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13015', 'article_category_id' => '1', 'title' => '42 Companies Shortlisted for Upgrading Nagdhunga-Malekhu-Muglin Road Section', 'sub_title' => '', 'summary' => 'February 3: The Department of Roads (DoR) has shortlisted 42 companies for upgrading the Nagdhunga-Malekhu-Muglin section of Prithvi Highway. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">February 3: The Department of Roads (DoR) has shortlisted 42 companies for upgrading the Nagdhunga-Malekhu-Muglin section of Prithvi Highway. Majority of those companies that made it to the pre-qualification round of selection process are Chinese companies. According to the DoR, a total of 30 Chinese companies were shortlisted in response to a global tender issued by the department while the remaining 12 companies are from Nepal and India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The government has allocated Rs 16 billion for upgrading the 96 km section of the highway but only Rs 9 billion has been released for the current upgradation work. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The department is preparing to complete the project in three packages and these 42 companies have been shortlisted to upgrade the Nagdhunga-Naubise and Naubise-Malekhu sections of the highway under the first and second packages respectively. A total of 56 kilometers of road fall under these two packages. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Deputy Director General of the Development Support Implementation Division of the Department of Roads, Arjun Jung Thapa informed that all the companies that fulfilled the criteria mentioned in the tender have been selected in the pre-qualification round. Thapa added that there will be competition among the shortlisted companies to select the best among them. The department will now seek financial proposals from the shortlisted companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">A tender for upgrading the Malekhu-Muglin section under the third package worth Rs 7 billion will be announced soon, added Thapa. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The process of upgrading the road section has started after the World Bank released funds for the project some eight months ago. The same road was earlier upgraded with the financial assistance of the World Bank about 29 years ago.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12763', 'image' => '20210203120420_20200611120202_WB Road Project.jpg', 'article_date' => '2021-02-03 12:03:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13017', 'article_category_id' => '1', 'title' => 'Samrat Cement to Produce 7 MW Electricity within 3 Months', 'sub_title' => '', 'summary' => 'February 3: Samrat Cement Industry is preparing to produce 7 megawatts of electricity a day in addition to 2,000 metric tons of clinker per day. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">February 3: Samrat Cement Industry is preparing to produce 7 megawatts of electricity a day in addition to 2,000 metric tons of clinker per day. The company, which was formally launched on November 30, 2020, will be utilizing the byproducts like hot air and garbage to produce electricity.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The company has been producing both cement and clinker. According to the company, it will be able to to produce 7 megawatts of electricity while producing 4,500 metric tons of clinker from all its plants. Chairman of the industry Mukunda Timilsina informed that preparations are underway to produce 7 megawatts of electricity within three months. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Once the industry starts producing electricity on its own, it plans to reduce the purchase of electricity from the Nepal Electricity Authority.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The cement industry currently requires 22 megawatts of electricity on a daily basis for its operation.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Within two months of operation, Samrat Cement Industry has started producing 2,000 metric tons of clinker per day which is half of its total capacity. The industry plans to produce 2,500 metric tons of additional clinker within a month.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Samrat Cement has been using limestone from mines in Dang and Rolpa district.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12762', 'image' => '20210203023030_My Effect.jpg', 'article_date' => '2021-02-03 14:29:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13016', 'article_category_id' => '1', 'title' => ' Rain and Snowfall in Forecast ', 'sub_title' => '', 'summary' => 'February 3: The weather will be cloudy throughout the country from Thursday to Saturday (February 4 to 6) with chances of precipitation in many places, the state-owned national news agency RSS reported citing the Department of Hydrology and Meteorology. ', 'content' => '<p><em>This file photo taken from the archives of New Business Age shows heavy snowfall in Dolakha.</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The weather will be cloudy throughout the country from Thursday to Saturday (February 4 to 6) with chances of precipitation in many places, the state-owned national news agency RSS reported citing the Department of Hydrology and Meteorology. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Light rainfall will take place in most of the areas of the country while snowfall will likely occur in the high hills and mountainous areas as the westerly wind will become active from Thursday, RSS quoted meteorologist Shanti Kandel as saying. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Kandel, the temperature will start rising after this weather system exits and it will be hotter. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The weather was partly cloudy in the hill areas while it was fair in the rest of the country on Tuesday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The weather update shared by the Meteorological Forecasting Division shows the minimum temperature of Kathmandu at 2.7 degrees Celsius and the maximum temperature at 18.8 degrees Celsius on Tuesday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the lowest minimum temperature was recorded in Jumla. The lowest minimum temperature in Jumla was minus 4.5 degrees Celsius while Birendranagar recorded the highest minimum temperature of 8.2 degrees Celsius on Tuesday. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12761', 'image' => '20210203122659_20181230033201_2222.jpg', 'article_date' => '2021-02-03 12:25:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13013', 'article_category_id' => '1', 'title' => 'Over a Dozen Commercial Banks Report Increase in NPL', 'sub_title' => '', 'summary' => 'February 2: The non-performing loans (NPL) of more than a dozen commercial banks have increased in the second quarter of the current fiscal year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The non-performing loans (NPL) of more than a dozen commercial banks have increased in the second quarter of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Out of the 27 commercial banks, 14 have stated that the nonperforming loans in the second quarter of the current fiscal year have increased compared to the corresponding period of last fiscal year. Other 12 commercial banks have reported that their NPL is under control while Century Commercial Bank has reported NPL equal to that of the previous year. In the first quarter of the current fiscal year, 18 commercial banks had reported increase in NPL.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned Rastriya Banijya Bank has the highest amount of NPL among all commercial banks this year. The bank’s NPL was 4.23 percent in the second quarter of the current FY, which is still better than 4.77 percent during the corresponding period of last fiscal year. Rastriya Banijya Bank has stated that it is facing problem in collecting installments of loan due to the impact of Covid-19. Other two state-owned banks – Agriculture Development Bank and Nepal Bank Limited – stand second and third among the commercial banks with high non-performing loans. The non-performing loan of Agriculture Development Bank was 3.14 percent during the review period while that of Nepal Bank Limited was 2.88 percent.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Citizen’s Bank has reported a rise in NPL this year compared to last year. The bank’s NPL during the review period was 2.42 percent against 0.99 percent last year. Similarly, Standard Chartered Bank also reported an increase in NPL from 0.17 percent last year to 1.54 percent this year. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The NPL of other commercial banks during the review period are as follows: NMB Bank (2.38 percent), Nepal Bangladesh Bank (2.37 percent), Himalayan Bank (2.13 percent), Siddhartha Bank (1.91 percent), Global IME Bank (1.72 percent), Mega Bank (1.71 percent), and Kumari Bank (1.06 percent).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The financial reports issued by Machhapuchchhre Bank, Sanima Bank, Nepal SBI Bank and Everest Bank also reported increase in NPL below 1 percentage point.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12760', 'image' => '20210202041717_PIMCO_Blog_NPL_Nov17_55361_670x440.jpg', 'article_date' => '2021-02-02 16:16:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13014', 'article_category_id' => '1', 'title' => 'NEPSE at All-Time High Record ', 'sub_title' => '', 'summary' => 'February 3: The Nepal Stock Exchange (NEPSE) – an indicator to measure share transaction in the stock market – has reached the highest-ever points. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The Nepal Stock Exchange (NEPSE) – an indicator to measure share transaction in the stock market – has reached the highest-ever points. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the latest rise on February 2, the NEPSE has bounced to reach 2,500 points. According to the NEPSE, the stock market has touched 2,473.73 points with a gain of 65.49 points on Tuesday (February 2) alone. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Likewise, the sensitive index, which measures share transaction of big companies, has also gained 14.10 points to reach 451.38 points. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Along with the rise in NEPSE index, the traded amount has also witnessed increment. Total volume of shares traded on Tuesday were over Rs 8.59 billion. Shares of 200 companies were traded, NEPSE sources said. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The share market capitalization has reached Rs 3300 billion with the latest increment. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12759', 'image' => '20210203112246_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2021-02-03 11:22:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13011', 'article_category_id' => '1', 'title' => 'SJVN Limited to Export 79 Percent Electricity to India, Nepal to get 21 Percent Free of Cost', 'sub_title' => '', 'summary' => 'February 2: India’s SJVN Limited, which has been selected for the project framework development of the 679-megawatt Lower Arun Hydropower Project, will be taking away 79 percent of electricity generated by the project to India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">February 2: India’s SJVN Limited, which has been selected for the project framework development of the 679-megawatt Lower Arun Hydropower Project, will be taking away 79 percent of electricity generated by the project to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Indian company will be exporting 536.41 megawatts of electricity to India once the project starts generating electricity. Nepal will be getting 21 percent of electricity (146.37 megawatts) generated by the project free of cost. The company had included such clauses while submitting proposal for the project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Following the selection of SJVN Limited, the total number of hydropower projects developed for exporting electricity from Nepal has now reached three. Other such projects include 900-megawatt Arun III Hydropower Project, which is also being developed by SJVN Limited, and 900-megawatt Upper Karnali Hydropower Project which is undertaken by India’s GMR Company. Both of these companies will be exporting electricity to India after providing a certain amount of electricity free of cost to Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal will receive 21.88 percent electricity from the Lower Arun III and 12 percent electricity from Upper Karnali.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Investment Board Nepal had last week selected SJVN Limited for the framework development of Lower Arun Hydropower Project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">SJVN Limited’s competitor from China had proposed providing 25 percent free electricity to Nepal. However, SJVN scored more points in overall criteria set by the government and therefore the project was handed over to the Indian company, the board informed New Business Age. A high-ranking source at the Ministry of Energy said on condition of anonymity that SJVN Limited scored three points more than the Chinese company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We didn’t evaluate the proposals only on the basis of free electricity offer. SJNV scored more points while evaluating all the criteria set by the government,” said the source, adding that the Chinese company scored 80 points while the Indian company scored 83 points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The company’s proposal has already been approved by the Government of Nepal after it was selected for project framework development. However, there are possibilities of amending the proposal of the Indian company while signing the project development agreement (PDA).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Firstly, the board will sign an agreement with the company for project framework development. Then the board will give survey license and then the permission for construction of the project, which will be followed by PDA between the company and the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">IBN Spokesperson Dharmendra Kumar Mishra said that the two sides can negotiate on the proposal made by the company before signing the PDA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Both sides will hold discussions on the proposal made by the company before signing the PDA. The proposal can be amended in this process,” said Mishra.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The framework for the project will be developed as Build, Own, Operate and Transfer (BOOT) model under the public-private partnership framework.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12757', 'image' => '20210202021045_20150823012330_ep1.jpg', 'article_date' => '2021-02-02 14:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13010', 'article_category_id' => '1', 'title' => '50 Percent Hotel Occupancy in Sauraha following New Year Campaign', 'sub_title' => '‘Let's Go to Sauraha’ Campaign Brings Tourists in Hordes', 'summary' => 'February 2: The "Let’s go to Sauraha" campaign launched before the new year to revive the COVID-19 impacted tourism sector of Chitwan district is slowly gaining momentum, as domestic tourists are gradually arriving in Sauraha in an impressive number. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The "Let’s go to Sauraha" campaign launched before the new year to revive the COVID-19 impacted tourism sector of Chitwan district is slowly gaining momentum, as domestic tourists are gradually arriving in Sauraha in an impressive number. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Over 50 per cent of hotels in Sauraha remain occupied during the weekend while over 140 small and big hotels and around 50 restaurants in Sauraha see 40 per cent occupancy during the working days lately, informed Regional Hotel Association Chitwan’s President Deepak Bhattarai. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The local tourism entrepreneurs had targeted major city areas in Province No 2 and Bagmati Province for the campaign besides marketing it in Biratnagar and Dharan among other major cities in Province No 1, shared Bhattarai. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The promotional campaign that was supported by the Tourism Board of Nepal and local units as well as attractive discount scheme in services (20 to 40 per cent) offered by the hotels and restaurants managed to bring in encouraging number of domestic tourists in Sauraha. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Bhattarai, before the outbreak of COVID-19, mostly students were seen coming in Sauraha but lately people visit Sauraha as a couple or in a family to enjoy sight-seeing its rich flora and fauna and enchanting natural landscapes. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Most of the hotels and restaurants in Sauraha that were shut down after the outbreak of COVID-19 pandemic have begun their operation, informed the campaign coordinator Suman Ghimire. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Ghimire said that plans were afoot to launch the campaign nationwide. Restaurant and Bar Association Sauraha’s President Dipendra Khatiwada added that the arrival of tourists in Sauraha during the holidays remains higher while their arrival during the working days is also satisfactory. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sauraha, situated close to Rapti River and the Chitwan National Park, is one of the major tourism destinations in the country that offers multitude of activities for the tourists such as jungle safari either in a jeep or on elephant, bird watching, canoe ride, elephant baths, sunrise and sunset viewing, boating and cultural events among others. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12756', 'image' => '20210202121548_20190415022754_aaa.jpg', 'article_date' => '2021-02-02 12:15:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13009', 'article_category_id' => '1', 'title' => 'Government Sets Up Bird Flu Control Room', 'sub_title' => '', 'summary' => 'February 2: The government has formed a bird flu control room to curb the spread of the H5N1 virus after the disease was detected in a poultry farm in Tarkeshwar Municipality on the outskirts of the capital.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The government has formed a bird flu control room to curb the spread of the H5N1 virus after the disease was detected in a poultry farm in Tarkeshwar Municipality on the outskirts of the capital.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Livestock Services on Friday confirmed bird flu among the turkeys, ducks and quails after a sample test at ward-7 of the municipality. The bird flu control room was formed under the leadership of Damayanti Shrestha, acting director general of the department, on the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department informed that the control room will coordinate with various government bodies including the Nepal Agriculture Research Council, National Public Health Laboratory and the Epidemiology and Disease Control Division. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Information Officer of the department Dr Chandra Dhakal said that the control room is currently working to prevent the disease from spreading in other areas. Dhakal claimed that the department has already succeeded in curbing the disease in Tarkeshwar Municipality.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department has banned poultry farming and animal husbandry in the municipality for the next three months. The control room is preparing to mobilize teams across the country in coordination with the provincial and local governments.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12755', 'image' => '20210202120856_A3 Poster or Handout_Bird Flu Mar 2020 (upload)-400 2.JPG', 'article_date' => '2021-02-02 12:08:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13024', 'article_category_id' => '1', 'title' => 'Local Units Flout Criteria while Recommending Projects under Indian Grant ', 'sub_title' => '', 'summary' => 'February 8: Local governments are found to be recommending projects under the Small Development Project (SDP)—a scheme financed by the Government of India—by going against set criteria.', 'content' => '<h1><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">February 8: Local governments are found to be recommending projects under the Small Development Project (SDP)—a scheme financed by the Government of India—by going against set criteria. </span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">As local units are selecting and recommending projects for the scheme that do not fall under prescribed sectors, the federal government officials say that they have to reject such proposals. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Along with their project proposals, local bodies are also required to submit Detailed Project Report (DPR), cost sharing commitment of respective local unit and evidence confirming availability of land for infrastructure development, among other documents.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Though infrastructure development projects like construction of school, hospital, child care center and library are funded through the SSP, many local governments are selecting projects that do not qualify under this scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">As a result, the Ministry of Federal Affairs and General Administration (MoFAGA) is declining those recommended projects, according to officials at the MoFAGA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">“Local units should follow certain criteria while submitting their projects under the SDP. Many local units do not pay attention to these criteria. Those incomplete proposals are returned to the respective local units. We have been drawing their attention about this issue which is yet to be resolved,” said Bishnu Dutta Gautam, a joint secretary at the MoFAGA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Many projects recommended by local units are related to those areas that are different than those allowed under the scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">Going against the upper limit set for the funding under the SDP, some local units have also been found recommending projects with estimated cost higher than Rs 50 million, according to MoFAGA officials. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">After receiving proposals from local governments, the MoFAGA forwards the eligible projects for the funding to the Embassy of India in Kathmandu via the Ministry of Finance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt">The Embassy of India in Kathmandu has allocated a budget of Rs 500 million for the SDP for the current fiscal year 2020/21. The Indian government directly releases the budget to the respective local governments based on the progress of the projects selected under this scheme. </span></span></span></p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12770', 'image' => '20210208020500_20160628012102_flag.jpg', 'article_date' => '2021-02-08 14:04:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13023', 'article_category_id' => '1', 'title' => 'CAAN Gives 30-day Ultimatum for Airline Companies to Clear their Dues', 'sub_title' => '', 'summary' => 'February 8: The Civil Aviation Authority of Nepal (CAAN), the aviation regulatory body of Nepal, on Monday (February 8) issued an ultimatum to 11 defunct airline companies to clear their pending dues of Rs 90 million within 30 days.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Tamish Giri</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">February 8: The Civil Aviation Authority of Nepal (CAAN), the aviation regulatory body of Nepal, on Monday (February 8) issued an ultimatum to 11 defunct airline companies to clear their pending dues of Rs 90 million within 30 days.<br /> Issuing a public notice on February 8, CAAN warned the airline companies that it would take severe action if they fail to clear the dues within the deadline.<br /> Raj Kumar Chhetri, deputy director-general and spokesperson of CAAN, informed New Business Age that the regulatory body had previously issued the notice three months ago and had informed the stakeholders about it. However, none of the airlines paid the dues. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“We received enquiries from some airline operators who mentioned that they had sold the company long back and requested to remove their name from the list. We have requested them to bring their documents and meet our finance department regarding it. We want to help them, but they have to clear their pending dues to the government. They don’t have any other alternatives,” he said.<br /> CAAN has warned the airline companies that it would blacklist them and their owners under the Civil Aviation Airport Management Regulation 2011, prohibiting them from operating flights, entering airports and participating in any businesses associated with CAAN in the future, if they don’t clear the pending dues in time.<br /> CAAN has also warned of confiscating the properties of those who guaranteed to pay the dues in case the operators failed to do so.<br /> The regulatory body published the first public notice on February 8 after the airline companies did not clear their dues even after repeated notification.<br /> CAAN has asked to pay the outstanding amount and late fee within 30 days.<br /> The airlines that have not cleared the dues include Necon Air, Shivani Air, Alpine Air, Gorkha Air, Karnali Air, Mountain Air, Cosmic Air, Shangrila Air, Skyline Airways, Air Kasthamandap and Nepal Airways. None of these airlines has been in operation since 2008.<br /> The airlines have to pay a combined fee of Rs 96.874 million to the CAAN.<br /> According to the public notice published by CAAN, Neccon has to pay Rs 47 million, Shiwani Air Rs 5.5 million, Alpine Air Rs 72,728, Gorkha Air Rs 2.03 million, Karnali Air Rs 1.74 million, Mountain Air Rs 1.2 million, Cosmic Air Rs 34.7 million, Shangrila Air Rs 1.53 million, Skyline Air Rs 1.55 million, Air Kasthamandap Rs 0.73 million and Nepal Airways Rs 0.55 million.<br /> “Some international operators also have not cleared their dues, and we will make a public statement soon regarding them,” Chhetri informed.<br /> Sahara, Kingfisher and Jet Airways are yet to clear their pending bills to the CAAN.<br /> "We urge the airline operators to clear the dues abiding by the law," Chhetri added.</span></span></span></span></p> <p> </p> <p><img alt="" src="/app/webroot/userfiles/images/CAAN%281%29.jpeg" style="height:1024px; width:802px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12769', 'image' => '20210208012832_20200827042104_1598477546.Clipboard08.jpg', 'article_date' => '2021-02-08 13:26:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13022', 'article_category_id' => '1', 'title' => '17.57 Million People have Access to Internet via Smartphones ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Manisha Balami</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">February 8: With the rise in use of smartphones, more than half of the population of Nepal has access to internet at their fingertips. The latest Management Information System (MIS) report published by Nepal Telecommunication Authority (NTA) shows that 23.92 million has access to internet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Of the total internet users, 17.57 million are using mobile data. Meanwhile, 6.1 million users are using broadband and 226,662 are using wireless internet service. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Min Prasad Aryal, spokesperson of NTA, states that the 4G expansion by telecom service providers has helped to increase its mobile broadband users. “4G expansion in urban as well as rural areas has resulted in a surge in the use of internet,” he said, adding fund from Rural Telecommunication Development Fund (RTDF) has been granted to the internet service providers to expand the internet service in remote areas of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the telecommunication authority’s data, 11.9 million users are Nepal Telecom subscribers. Among them, 2.04 million are 4G users while 8.43 million are using 3G service of NTC. In the meantime, 6.75 million are using broadband service of Ncell. Among them, 2.67 million are using 3G services while 4.08 million are using 4G service. Likewise, 199,761 are using 4G service of SmartCell. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Aryal further says that the internet consumption has also increased after people were locked down in their houses to avoid coronavirus. As everything was done virtually, the use of internet has increased during the lockdown period. “This trend will increase further in the coming days as digital transactions have also increased and the use of data will also grow exponentially,” said Aryal. </span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12768', 'image' => '20210208112726_wi-fi-internet-connection-on-a-smartphone-icon-vector-7350115.jpg', 'article_date' => '2021-02-08 11:26:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13021', 'article_category_id' => '1', 'title' => 'One Stop Service Center Fails to Deliver Promises of Removing Hassles for Investors ', 'sub_title' => 'Investors are pushed from pillar to post for paperwork as half a dozen government agencies do not have presence at One Stop Service Center ', 'summary' => '', 'content' => '<h1><span style="font-size:18px"><span style="font-family:Cambria">SAGAR GHIMIRE</span></span></h1> <p><span style="font-size:18px"><span style="font-family:Cambria">February 8: Even after one and a half years of establishment, the One Stop Service Center (OSSC) set up by the government to deal with investors is operating in the absence of representatives of over half a dozen government agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Due to a long delay by these government agencies in sending their representatives to the OSSC, investors continue to face trouble to get their work done. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The OSSC was established at the premises of the Department of Industry (DoI) in May 2019 with an objective of providing all services—ranging from approval of investments to exit of an industry—for investors from a single place. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">To offer all services required for investors, the government promised to house 13 government agencies in the One Stop Service Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">However, seven agencies are yet to show their presence at the OSSC, requiring investors to visit the respective office of these agencies for the paperwork.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Despite promises from the government that the single-window would cut hassles, cost and time for investors, the reality is different at the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Crucial government agencies like the Ministry of Physical Infrastructure and Transportation, Ministry of Forest and Environment, Office of the Company Registrar and Nepal Electricity Authority have not sent their representatives to the OSSC yet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Investors and experts say that the OSSC cannot meet its objectives without bringing all government agencies dealing with investment on board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“It was said that all services are available from the OSSC. But, that’s not the case here. I was told that we should visit offices of some agencies that are not here to get their services,” a lawyer visiting the OSSC to get information for a Japanese investor told New Business Age. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Even the Office of the Company Registrar does not have a representative here. If asked, staff here would point towards the building of the Office of the Company Registrar nearby. Establishment of the OSSC should have ended the hassle of visiting various government agencies,” he added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">However, Gyanendra Parajuli, director at the Department of Industry, claims that the absence of various agencies have not made a significant impact on the overall work of the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Investors rarely seek services of those agencies which have not sent their representatives yet. But, these agencies will also send their representatives gradually in line with the spirit of the OSSC,” said Parajuli, who is also the spokesperson of the DoI. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">A study carried out by the DoI recently concluded that the absence of representatives of seven agencies at the OSSC is a managerial issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Absence of various government agencies is not the only issue hampering the performance of the OSSC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Even the representatives of various agencies who have been deputed at the OSSC cannot make decision in all cases. As they do not have the authority to decide themselves in all cases, they have to forward those files to the respective agencies for approval. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“The intention of setting up OSSC is good. However, investors have not been able to experience anything worthwhile after this mechanism came into operation,” Shabda Gyawali, Investment Director at Dolma Impact Fund, told New Business Age. “While there are some government agencies that are yet to send their representatives to the OSSC, those who already have their desks cannot promptly make decision in many cases. What’s the difference now and then? Earlier, investors had to visit Nepal Rastra Bank whereas staff at their desk of the OSSC forwards the files now,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Dolma Impact Fund is the first international private equity and impact fund dedicated to Nepal and provides capital and expertise to growth companies related to sectors like renewable energy, agriculture, health and tourism. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Gyawali said that the government should implement a system that approves investment on certain sectors through automatic route to end hassles for foreign investors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Admitting that staff working at the OSSC cannot make decision themselves in certain cases, DoI’s Director Parajuli said that respective agencies should delegate them full authority. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to the DoI, it has approved 129 projects in the first six months of the current fiscal year 2020/21 for foreign direct investments worth Rs 25.26 billion. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Cambria"><strong><em>Government agencies yet to send representatives: </em></strong></span></span></p> <ol> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Physical Infrastructure and Transport</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Forests and Environment</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Ministry of Labor, Employment and Social Security </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Department of Commerce, Supplies and Consumer Interest Protection</span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Office of Company Registrar </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Nepal Electricity Authority </span></span></li> <li><span style="font-size:18px"><span style="font-family:Cambria">Nepal Telecommunication Authority </span></span></li> </ol> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-08', 'modified' => '2021-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '12767', 'image' => '20210208111509_20160513034506_editor.jpg', 'article_date' => '2021-02-08 11:13:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13020', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up in January ', 'sub_title' => '', 'summary' => 'February 5: With the fall in number of Covid-19 cases in Nepal, the number of foreign nationals arriving in the country has grown in January compared to the previous months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">February 5: With the fall in number of Covid-19 cases in Nepal, the number of foreign nationals arriving in the country has grown in January compared to the previous months.<br /> According to the data provided by the Department of Immigration, a total of 8,874 foreign nationals visited Nepal in the first month of 2021. Among them, 6,225 were male, 2,635 were female, while 14 were unverified, as per the department’s data.<br /> The reported number of tourist arrival is the highest since March 2020, when 42,776 tourists had visited Nepal.<br /> Mani Raj Lamichhane, director of Nepal Tourism Board, informed that the number of foreigners arriving in Nepal has increased following the air bubble agreement between Nepal and India and the drastic fall in Covid-19 cases.<br /> "News about Covid-19 vaccination in the western countries, the introduction of vaccination in Nepal and a drastic decline in Covid-19 casualties have motivated the foreigners to travel to Nepal," Lamichhane added. <br /> Likewise, online promotions of NTB through various channels and virtual meets have also attracted the foreigners to Nepal.<br /> Nepal recorded the lowest number of tourist arrival with just 14 visitors in April last year and 9,420 foreigners between April and December 2020.<br /> According to the Department of Immigration, foreign nationals of 121 different nations had visited Nepal in January this year, while 39,946 Nepalis left the country.<br /> Altogether 4,028 Indian nationals, 1,877 Chinese and 874 Americans and 39 UN officials had entered Nepal in January along with 47,267 Nepalis. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-05', 'modified' => '2021-02-05', 'keywords' => '', 'description' => '', 'sortorder' => '12766', 'image' => '20210205105042_20201125014618_20201016032657_1602804123.Clipboard13.jpg', 'article_date' => '2021-02-05 10:49:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13019', 'article_category_id' => '1', 'title' => 'Base Rate of All Commercial Banks Decline', 'sub_title' => '', 'summary' => 'February 3: The base rate of commercial banks has dropped in the second quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The base rate of commercial banks has dropped in the second quarter of the current fiscal year. It has been learnt that the base rate has dropped as a result of banks reducing the cost of deposits. As the base rate has dropped, customers of the banks have started getting loans at a cheaper rate of interest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of 27 commercial banks have dropped to a minimum of 5.61 percent and a maximum of 8.45 percent as of mid-January. The lowest base rate is of the state-owned Rastriya Banijya Bank while Civil Bank has the highest base rate.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of commercial banks were in double digits until a year ago. Due to this, the rate of interest on loan was high during last year. But the base rates of all the banks have dropped to single digit this year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The base rates of commercial banks have dropped between 0.00 percentage points to 2.53 percentage points in the second quarter of the current fiscal year compared to the corresponding period of last FY. The average base rate of commercial banks is 7.19 percent.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the decline in base rate, the floating interest will also decline but it will not have any impact on fixed interest rate, says Bhuvan Kumar Dahal, chairman of Nepal Bankers’ Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The base rates of all banks have declined. Now the customers can avail loan at cheaper floating interest rate,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12765', 'image' => '20210203045517_20200824042834_INTEREST-RATE.jpg', 'article_date' => '2021-02-03 16:54:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13018', 'article_category_id' => '1', 'title' => 'Footwear Business Expo Kicks Off ', 'sub_title' => '', 'summary' => 'February 3: The Footwear Business Expo, organized by the Footwear Manufacturers’ Association of Nepal, has kicked off at the Exhibition Hall in Bhrikutimandap, Kathmandu from Wednesday, February 3.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria">February 3: The Footwear Business Expo, organized by the Footwear Manufacturers’ Association of Nepal, has kicked off at the Exhibition Hall in Bhrikutimandap, Kathmandu from Wednesday, February 3. The 20-day long event is being organised with the slogan ‘Our Campaign- Promotion of domestic products’. The expo will end on 22<sup>nd</sup> March.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Krishna Kumar Phuyal, chairman of the Footwear Manufacturers’ Association of Nepal (FMAN) and coordinator of the expo said, “This expo has been organized to uplift the economy that has been badly affected by COVID-19”. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Phuyal added that the customers are becoming increasingly aware about the value of locally-made products. “They are more affectionate about it so this is our attempt to present locally made footwear from various brands among the customers,” he further added. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The expo is offering shoes of about 3000 models with prices ranging from Rs 300 to Rs 10,000. The organizers of the expo are expecting 500,000 visitors during the expo. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Homnath Poudel, former president of FMAN, claimed that all the Nepalese brands have participated in the event and asked visitors to visit the event and promote Nepali products. He also informed that FMAN will be organizing footwear expo in each province from this year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12764', 'image' => '20210203043705_20181225010006_Clipboard01.jpg', 'article_date' => '2021-02-03 16:36:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13015', 'article_category_id' => '1', 'title' => '42 Companies Shortlisted for Upgrading Nagdhunga-Malekhu-Muglin Road Section', 'sub_title' => '', 'summary' => 'February 3: The Department of Roads (DoR) has shortlisted 42 companies for upgrading the Nagdhunga-Malekhu-Muglin section of Prithvi Highway. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">February 3: The Department of Roads (DoR) has shortlisted 42 companies for upgrading the Nagdhunga-Malekhu-Muglin section of Prithvi Highway. Majority of those companies that made it to the pre-qualification round of selection process are Chinese companies. According to the DoR, a total of 30 Chinese companies were shortlisted in response to a global tender issued by the department while the remaining 12 companies are from Nepal and India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The government has allocated Rs 16 billion for upgrading the 96 km section of the highway but only Rs 9 billion has been released for the current upgradation work. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The department is preparing to complete the project in three packages and these 42 companies have been shortlisted to upgrade the Nagdhunga-Naubise and Naubise-Malekhu sections of the highway under the first and second packages respectively. A total of 56 kilometers of road fall under these two packages. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Deputy Director General of the Development Support Implementation Division of the Department of Roads, Arjun Jung Thapa informed that all the companies that fulfilled the criteria mentioned in the tender have been selected in the pre-qualification round. Thapa added that there will be competition among the shortlisted companies to select the best among them. The department will now seek financial proposals from the shortlisted companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">A tender for upgrading the Malekhu-Muglin section under the third package worth Rs 7 billion will be announced soon, added Thapa. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The process of upgrading the road section has started after the World Bank released funds for the project some eight months ago. The same road was earlier upgraded with the financial assistance of the World Bank about 29 years ago.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12763', 'image' => '20210203120420_20200611120202_WB Road Project.jpg', 'article_date' => '2021-02-03 12:03:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13017', 'article_category_id' => '1', 'title' => 'Samrat Cement to Produce 7 MW Electricity within 3 Months', 'sub_title' => '', 'summary' => 'February 3: Samrat Cement Industry is preparing to produce 7 megawatts of electricity a day in addition to 2,000 metric tons of clinker per day. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">February 3: Samrat Cement Industry is preparing to produce 7 megawatts of electricity a day in addition to 2,000 metric tons of clinker per day. The company, which was formally launched on November 30, 2020, will be utilizing the byproducts like hot air and garbage to produce electricity.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The company has been producing both cement and clinker. According to the company, it will be able to to produce 7 megawatts of electricity while producing 4,500 metric tons of clinker from all its plants. Chairman of the industry Mukunda Timilsina informed that preparations are underway to produce 7 megawatts of electricity within three months. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Once the industry starts producing electricity on its own, it plans to reduce the purchase of electricity from the Nepal Electricity Authority.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The cement industry currently requires 22 megawatts of electricity on a daily basis for its operation.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Within two months of operation, Samrat Cement Industry has started producing 2,000 metric tons of clinker per day which is half of its total capacity. The industry plans to produce 2,500 metric tons of additional clinker within a month.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Samrat Cement has been using limestone from mines in Dang and Rolpa district.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12762', 'image' => '20210203023030_My Effect.jpg', 'article_date' => '2021-02-03 14:29:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13016', 'article_category_id' => '1', 'title' => ' Rain and Snowfall in Forecast ', 'sub_title' => '', 'summary' => 'February 3: The weather will be cloudy throughout the country from Thursday to Saturday (February 4 to 6) with chances of precipitation in many places, the state-owned national news agency RSS reported citing the Department of Hydrology and Meteorology. ', 'content' => '<p><em>This file photo taken from the archives of New Business Age shows heavy snowfall in Dolakha.</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The weather will be cloudy throughout the country from Thursday to Saturday (February 4 to 6) with chances of precipitation in many places, the state-owned national news agency RSS reported citing the Department of Hydrology and Meteorology. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Light rainfall will take place in most of the areas of the country while snowfall will likely occur in the high hills and mountainous areas as the westerly wind will become active from Thursday, RSS quoted meteorologist Shanti Kandel as saying. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Kandel, the temperature will start rising after this weather system exits and it will be hotter. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The weather was partly cloudy in the hill areas while it was fair in the rest of the country on Tuesday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The weather update shared by the Meteorological Forecasting Division shows the minimum temperature of Kathmandu at 2.7 degrees Celsius and the maximum temperature at 18.8 degrees Celsius on Tuesday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the lowest minimum temperature was recorded in Jumla. The lowest minimum temperature in Jumla was minus 4.5 degrees Celsius while Birendranagar recorded the highest minimum temperature of 8.2 degrees Celsius on Tuesday. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12761', 'image' => '20210203122659_20181230033201_2222.jpg', 'article_date' => '2021-02-03 12:25:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13013', 'article_category_id' => '1', 'title' => 'Over a Dozen Commercial Banks Report Increase in NPL', 'sub_title' => '', 'summary' => 'February 2: The non-performing loans (NPL) of more than a dozen commercial banks have increased in the second quarter of the current fiscal year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The non-performing loans (NPL) of more than a dozen commercial banks have increased in the second quarter of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Out of the 27 commercial banks, 14 have stated that the nonperforming loans in the second quarter of the current fiscal year have increased compared to the corresponding period of last fiscal year. Other 12 commercial banks have reported that their NPL is under control while Century Commercial Bank has reported NPL equal to that of the previous year. In the first quarter of the current fiscal year, 18 commercial banks had reported increase in NPL.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned Rastriya Banijya Bank has the highest amount of NPL among all commercial banks this year. The bank’s NPL was 4.23 percent in the second quarter of the current FY, which is still better than 4.77 percent during the corresponding period of last fiscal year. Rastriya Banijya Bank has stated that it is facing problem in collecting installments of loan due to the impact of Covid-19. Other two state-owned banks – Agriculture Development Bank and Nepal Bank Limited – stand second and third among the commercial banks with high non-performing loans. The non-performing loan of Agriculture Development Bank was 3.14 percent during the review period while that of Nepal Bank Limited was 2.88 percent.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Citizen’s Bank has reported a rise in NPL this year compared to last year. The bank’s NPL during the review period was 2.42 percent against 0.99 percent last year. Similarly, Standard Chartered Bank also reported an increase in NPL from 0.17 percent last year to 1.54 percent this year. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The NPL of other commercial banks during the review period are as follows: NMB Bank (2.38 percent), Nepal Bangladesh Bank (2.37 percent), Himalayan Bank (2.13 percent), Siddhartha Bank (1.91 percent), Global IME Bank (1.72 percent), Mega Bank (1.71 percent), and Kumari Bank (1.06 percent).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The financial reports issued by Machhapuchchhre Bank, Sanima Bank, Nepal SBI Bank and Everest Bank also reported increase in NPL below 1 percentage point.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12760', 'image' => '20210202041717_PIMCO_Blog_NPL_Nov17_55361_670x440.jpg', 'article_date' => '2021-02-02 16:16:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13014', 'article_category_id' => '1', 'title' => 'NEPSE at All-Time High Record ', 'sub_title' => '', 'summary' => 'February 3: The Nepal Stock Exchange (NEPSE) – an indicator to measure share transaction in the stock market – has reached the highest-ever points. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 3: The Nepal Stock Exchange (NEPSE) – an indicator to measure share transaction in the stock market – has reached the highest-ever points. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the latest rise on February 2, the NEPSE has bounced to reach 2,500 points. According to the NEPSE, the stock market has touched 2,473.73 points with a gain of 65.49 points on Tuesday (February 2) alone. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Likewise, the sensitive index, which measures share transaction of big companies, has also gained 14.10 points to reach 451.38 points. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Along with the rise in NEPSE index, the traded amount has also witnessed increment. Total volume of shares traded on Tuesday were over Rs 8.59 billion. Shares of 200 companies were traded, NEPSE sources said. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The share market capitalization has reached Rs 3300 billion with the latest increment. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-02-03', 'modified' => '2021-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '12759', 'image' => '20210203112246_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2021-02-03 11:22:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13011', 'article_category_id' => '1', 'title' => 'SJVN Limited to Export 79 Percent Electricity to India, Nepal to get 21 Percent Free of Cost', 'sub_title' => '', 'summary' => 'February 2: India’s SJVN Limited, which has been selected for the project framework development of the 679-megawatt Lower Arun Hydropower Project, will be taking away 79 percent of electricity generated by the project to India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">February 2: India’s SJVN Limited, which has been selected for the project framework development of the 679-megawatt Lower Arun Hydropower Project, will be taking away 79 percent of electricity generated by the project to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Indian company will be exporting 536.41 megawatts of electricity to India once the project starts generating electricity. Nepal will be getting 21 percent of electricity (146.37 megawatts) generated by the project free of cost. The company had included such clauses while submitting proposal for the project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Following the selection of SJVN Limited, the total number of hydropower projects developed for exporting electricity from Nepal has now reached three. Other such projects include 900-megawatt Arun III Hydropower Project, which is also being developed by SJVN Limited, and 900-megawatt Upper Karnali Hydropower Project which is undertaken by India’s GMR Company. Both of these companies will be exporting electricity to India after providing a certain amount of electricity free of cost to Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal will receive 21.88 percent electricity from the Lower Arun III and 12 percent electricity from Upper Karnali.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Investment Board Nepal had last week selected SJVN Limited for the framework development of Lower Arun Hydropower Project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">SJVN Limited’s competitor from China had proposed providing 25 percent free electricity to Nepal. However, SJVN scored more points in overall criteria set by the government and therefore the project was handed over to the Indian company, the board informed New Business Age. A high-ranking source at the Ministry of Energy said on condition of anonymity that SJVN Limited scored three points more than the Chinese company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We didn’t evaluate the proposals only on the basis of free electricity offer. SJNV scored more points while evaluating all the criteria set by the government,” said the source, adding that the Chinese company scored 80 points while the Indian company scored 83 points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The company’s proposal has already been approved by the Government of Nepal after it was selected for project framework development. However, there are possibilities of amending the proposal of the Indian company while signing the project development agreement (PDA).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Firstly, the board will sign an agreement with the company for project framework development. Then the board will give survey license and then the permission for construction of the project, which will be followed by PDA between the company and the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">IBN Spokesperson Dharmendra Kumar Mishra said that the two sides can negotiate on the proposal made by the company before signing the PDA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Both sides will hold discussions on the proposal made by the company before signing the PDA. The proposal can be amended in this process,” said Mishra.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The framework for the project will be developed as Build, Own, Operate and Transfer (BOOT) model under the public-private partnership framework.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12757', 'image' => '20210202021045_20150823012330_ep1.jpg', 'article_date' => '2021-02-02 14:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13010', 'article_category_id' => '1', 'title' => '50 Percent Hotel Occupancy in Sauraha following New Year Campaign', 'sub_title' => '‘Let's Go to Sauraha’ Campaign Brings Tourists in Hordes', 'summary' => 'February 2: The "Let’s go to Sauraha" campaign launched before the new year to revive the COVID-19 impacted tourism sector of Chitwan district is slowly gaining momentum, as domestic tourists are gradually arriving in Sauraha in an impressive number. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The "Let’s go to Sauraha" campaign launched before the new year to revive the COVID-19 impacted tourism sector of Chitwan district is slowly gaining momentum, as domestic tourists are gradually arriving in Sauraha in an impressive number. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Over 50 per cent of hotels in Sauraha remain occupied during the weekend while over 140 small and big hotels and around 50 restaurants in Sauraha see 40 per cent occupancy during the working days lately, informed Regional Hotel Association Chitwan’s President Deepak Bhattarai. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The local tourism entrepreneurs had targeted major city areas in Province No 2 and Bagmati Province for the campaign besides marketing it in Biratnagar and Dharan among other major cities in Province No 1, shared Bhattarai. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The promotional campaign that was supported by the Tourism Board of Nepal and local units as well as attractive discount scheme in services (20 to 40 per cent) offered by the hotels and restaurants managed to bring in encouraging number of domestic tourists in Sauraha. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Bhattarai, before the outbreak of COVID-19, mostly students were seen coming in Sauraha but lately people visit Sauraha as a couple or in a family to enjoy sight-seeing its rich flora and fauna and enchanting natural landscapes. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Most of the hotels and restaurants in Sauraha that were shut down after the outbreak of COVID-19 pandemic have begun their operation, informed the campaign coordinator Suman Ghimire. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Ghimire said that plans were afoot to launch the campaign nationwide. Restaurant and Bar Association Sauraha’s President Dipendra Khatiwada added that the arrival of tourists in Sauraha during the holidays remains higher while their arrival during the working days is also satisfactory. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sauraha, situated close to Rapti River and the Chitwan National Park, is one of the major tourism destinations in the country that offers multitude of activities for the tourists such as jungle safari either in a jeep or on elephant, bird watching, canoe ride, elephant baths, sunrise and sunset viewing, boating and cultural events among others. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12756', 'image' => '20210202121548_20190415022754_aaa.jpg', 'article_date' => '2021-02-02 12:15:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13009', 'article_category_id' => '1', 'title' => 'Government Sets Up Bird Flu Control Room', 'sub_title' => '', 'summary' => 'February 2: The government has formed a bird flu control room to curb the spread of the H5N1 virus after the disease was detected in a poultry farm in Tarkeshwar Municipality on the outskirts of the capital.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">February 2: The government has formed a bird flu control room to curb the spread of the H5N1 virus after the disease was detected in a poultry farm in Tarkeshwar Municipality on the outskirts of the capital.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Livestock Services on Friday confirmed bird flu among the turkeys, ducks and quails after a sample test at ward-7 of the municipality. The bird flu control room was formed under the leadership of Damayanti Shrestha, acting director general of the department, on the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department informed that the control room will coordinate with various government bodies including the Nepal Agriculture Research Council, National Public Health Laboratory and the Epidemiology and Disease Control Division. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Information Officer of the department Dr Chandra Dhakal said that the control room is currently working to prevent the disease from spreading in other areas. Dhakal claimed that the department has already succeeded in curbing the disease in Tarkeshwar Municipality.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department has banned poultry farming and animal husbandry in the municipality for the next three months. The control room is preparing to mobilize teams across the country in coordination with the provincial and local governments.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-02-02', 'modified' => '2021-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '12755', 'image' => '20210202120856_A3 Poster or Handout_Bird Flu Mar 2020 (upload)-400 2.JPG', 'article_date' => '2021-02-02 12:08:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
